India, 17 September 2022 – UPL Ltd. (NSE: UPL & BSE: 512070 LSE: UPLL) (‘UPL’), a global provider of sustainable agricultural solutions, today announced a joint venture with CleanMax Enviro Energy Solutions (‘CleanMax’), a Mumbai-based renewable energy company, to establish a hybrid solar-wind energy power plant in Gujarat, India.
UPL and CleanMax will set up and operate a hybrid captive power plant with a capacity of 28.05 MW of solar power and 33 MW of wind power. Combining two of the fastest-growing renewable energy technologies, this project will enable UPL to increase its renewable energy usage to 30% of its total global power consumption (against 8% currently). Due to their complementary nature, wind solar hybrid power plants are highly efficient, providing a reliable and continuous power supply that helps to manage power loads effectively.
Jai Shroff, Global CEO of UPL, said: “At UPL, we are committed to Reimagining Sustainability internally as well as with our farming partners. Ensuring access to reliable, clean energy will help us realize that vision as we significantly reduce our carbon footprint. We look forward to welcoming CleanMax to our OpenAg network through this partnership and are excited to join India’s green energy wave.”
Kuldeep Jain, Founder & Managing Director, CleanMax said, “This 61.05 MW captive wind-solar hybrid project is a part of a larger wind solar hybrid farm developed by CleanMax in Gujarat. The overall capacity of the CleanMax wind solar hybrid farm stands at over 400 MW; comprising 230 MW wind and 180 MW solar; leading to carbon abatement of 8.75 Lakh tonnes of CO2 equivalent per annum.”
“We are excited to partner with UPL. The hybrid plant combines wind and solar power to maintain a consistently high supply of renewable energy to UPL across months and different times of the day.”