LG Electronics India Signs Solar Deals to Power Factories with Clean Energy

LGE India has taken a major step towards sustainability by signing long-term solar power agreements with Hinduja Renewables Energy Private Limited and Sunsure Energy. These agreements will supply renewable energy to its manufacturing plants in Greater Noida and Pune.

Key Project Details

• LGE India will generate about 3.2 crore units of clean electricity every year
• This is enough to power around 50,000 homes annually
• The company signed:
  • 9.8 MWp solar deal with HREPL for the Pune plant
  • 11 MWp solar deal with Sunsure Energy for the Noida plant
• The agreements are for 25 years and will start from Q2 2026

Impact on Energy Use and Emissions

• Pune plant will meet 40% of its energy needs from solar
• Noida plant will meet around 30% energy needs, taking total renewable usage to ~50%
• The project will help reduce around 0.61 million tonnes of carbon emissions over its lifetime

Strategic Importance

This is LGE India’s first captive renewable energy project in India. It also marks its entry into investing in energy generation through a special purpose vehicle (SPV).

The initiative supports global sustainability goals, including the RE100 initiative, and aligns with India’s net-zero target by 2070.

Industry Collaboration

• HREPL will supply power from its solar plant in Maharashtra
• Sunsure Energy will supply power from its plant in Uttar Pradesh
• Both companies aim to support industrial decarbonisation and promote clean energy adoption

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LG Electronics India Share Price Movement

LG Electronics India share price was trading at ₹1,491.60, up ₹7.00 or 0.47% during the session. The stock opened at ₹1,499 and moved within a day’s range of ₹1,490.00 to ₹1,531.50. It has a 52-week range of ₹1,325.50 to ₹1,749.00. The company’s market capitalisation stands at around ₹1,00,926.67 crore, with a trading volume of over 10.61 lakh shares.

Conclusion

LGE India’s move to adopt solar power shows a strong commitment to sustainable manufacturing. By reducing carbon emissions and increasing renewable energy use, the company is not only improving efficiency but also contributing to India’s long-term clean energy goals.

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