Corporate renewable energy solutions provider Vibrant Energy, a portfolio company of Macquarie’s Green Investment Group (GIG), has struck a deal to supply the Indian facilities of France’s Compagnie de Saint-Gobain SA (EPA:SGO) with power from a 75-MW wind-solar complex.
The long-term power purchase agreement (PPA) calls for the French building materials maker to receive round-the-clock power supplies from an unnamed hybrid power complex, Vibrant Energy said on Wednesday. The Indian firm did not specify the exact duration of the deal.
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The agreed power deliveries will come from an Interstate Transmission System (ISTS) connected wind-solar hybrid project in Madhya Pradesh.
Courbevoie, France-based Saint-Gobain aims to slash its scope 1 and 2 emissions by 33% and use 100% renewable energy for its operations by the end of the decade. Its ultimate goal is to become carbon neutral by 2050.
The French company estimates that the deal with Vibrant Energy will enable it to cover 65% of the total power consumption of its facilities in India with renewable energy by the end of 2025.
