Tata Motors has become the second Indian company to join RE100 – a global collaborative initiative of the world’s most influential companies committed to 100% renewable power, led by 'The Climate Group' in partnership with CDP. The move follows BMW Group joining RE100 in December last year. The company is targeting to use 100% renewable energ.
Arvind Bodhankar, Chief Sustainability Officer, Tata Motors Limited, said, “Our climate change policy aims to maximize the use of renewable energy in our manufacturing operations. Doing so will not only reduce our carbon emissions, but also lead to long-term financial savings. The RE100 movement shows that the transition to renewable energy is achievable and it offers a powerful network to support and celebrate businesses increasing their use of renewable power. Tata Motors is proud to join such an initiative.”
At present, Tata Motors (not including its subsidiaries) sources around 8% of its electricity from renewable sources. The automobile manufacturer has its own ‘captive wind power’ project of 21.95 MW capacity. In the financial year 2014-15, the company’s manufacturing operations at Pune, India, utilized wind energy of 26 million units, equivalent to carbon savings of 24,435 tCO2e, resulting into savings of Rs 163.5 million ($2.4 million) in electricity charges. The company has also solar energy installations at 3 of its manufacturing plants in India. It is also planning to source more renewable electricity from the grid in the future through open access agreement.
Krishnan Pallassana, Executive Director, India at The Climate Group, said, “At a time when India is poised to lead a low carbon economic revolution, it is of great privilege that Tata Motors has joined the RE100 club, thereby leading and inspiring the manufacturing sector to use renewable energy.”By joining RE100 Tata Motors is sending a clear market signal that business wants more renewable energy on the grid. A range of other options already available to companies offer energy security, financial savings and carbon cuts – it is great to see Tata Motors taking advantage through its wind and solar investments.
Mark Kenber, CEO, 'The Climate Group' said, “Businesses have a fundamental role to play in delivering a low carbon economy, and the Paris Agreement is giving them the confidence to go further and faster in their efforts. Tata Motors is one of the first companies to seize the opportunity post Paris, and we know many more will follow.”
Despite India adding considerable electricity generation capacity to the grid in the last decade, energy supply is not meeting growing demand. New York University estimates that electricity shortages are a substantial drag on Indian manufacturing, reducing revenue by 5.6% - 8.6%. Meanwhile infrastructure issues are causing the price of grid electricity to rise.
Tata Motors has become the second Indian company to join RE100 – a global collaborative initiative of the world’s most influential companies committed to 100% renewable power, led by 'The Climate Group' in partnership with CDP. The move follows BMW Group joining RE100 in December last year. The company is targeting to use 100% renewable energ.
Arvind Bodhankar, Chief Sustainability Officer, Tata Motors Limited, said, “Our climate change policy aims to maximize the use of renewable energy in our manufacturing operations. Doing so will not only reduce our carbon emissions, but also lead to long-term financial savings. The RE100 movement shows that the transition to renewable energy is achievable and it offers a powerful network to support and celebrate businesses increasing their use of renewable power. Tata Motors is proud to join such an initiative.”
At present, Tata Motors (not including its subsidiaries) sources around 8% of its electricity from renewable sources. The automobile manufacturer has its own ‘captive wind power’ project of 21.95 MW capacity. In the financial year 2014-15, the company’s manufacturing operations at Pune, India, utilized wind energy of 26 million units, equivalent to carbon savings of 24,435 tCO2e, resulting into savings of Rs 163.5 million ($2.4 million) in electricity charges. The company has also solar energy installations at 3 of its manufacturing plants in India. It is also planning to source more renewable electricity from the grid in the future through open access agreement.
Krishnan Pallassana, Executive Director, India at The Climate Group, said, “At a time when India is poised to lead a low carbon economic revolution, it is of great privilege that Tata Motors has joined the RE100 club, thereby leading and inspiring the manufacturing sector to use renewable energy.”By joining RE100 Tata Motors is sending a clear market signal that business wants more renewable energy on the grid. A range of other options already available to companies offer energy security, financial savings and carbon cuts – it is great to see Tata Motors taking advantage through its wind and solar investments.
Mark Kenber, CEO, 'The Climate Group' said, “Businesses have a fundamental role to play in delivering a low carbon economy, and the Paris Agreement is giving them the confidence to go further and faster in their efforts. Tata Motors is one of the first companies to seize the opportunity post Paris, and we know many more will follow.”
Despite India adding considerable electricity generation capacity to the grid in the last decade, energy supply is not meeting growing demand. New York University estimates that electricity shortages are a substantial drag on Indian manufacturing, reducing revenue by 5.6% - 8.6%. Meanwhile infrastructure issues are causing the price of grid electricity to rise.
