Hindustan Unilever (HUL) has solidified a strategic alliance with Brookfield to establish a 45 MW solar energy park in Rajasthan, underscoring its commitment to sustainable practices.
The company's Board has greenlit the acquisition of up to 27.73 percent, amounting to Rs 12.15 crore, in Transition Sustainable Energy Services One—a dedicated entity formed by Brookfield. This strategic move signifies HUL's proactive stride toward realizing its net-zero goals.
The special purpose vehicle (SPV), conceived under the government's group captive open access renewable energy scheme, is geared towards generating renewable energy (RE). The project is slated for development within Brookfield's solar park, an integral facet of the Brookfield Global Transition Fund.
In the collaborative effort, HUL aims to procure green energy at a substantial scale for itself and its suppliers from a centralized location in Bikaner, an integral part of the expansive 550 MW solar park initiative. This initiative underscores HUL's dedication to forging transformative partnerships that seamlessly align with both environmental and economic sustainability objectives.
News by Rahul Yelligetti