Orkla India, the parent company of MTR and Eastern, and CleanMax, a Brookfield backed company, have entered into a 25-year power purchase agreement (PPA) for the generation and supply of renewable energy from a 6.6 MWp solar captive power project located in Jagaluru, Karnataka. With this partnership, Orkla India factories based out of Karnataka will run on 100% renewable energy.
The project will be executed through a special purpose vehicle (SPV), with Orkla India holding a 26% equity stake and CleanMax retaining the remaining 74%. Under this arrangement, CleanMax will manage the energy generation, operation, and maintenance of the solar plant, ensuring optimal performance throughout the 25-year term.
This 6.6 MW plant will provide 10 million KWh units per annum, which is equivalent to the reduction of 7500 tons of CO2 emission annually.
Aligning with the company’s global sustainability objectives, this initiative will significantly reduce Orkla India’s carbon footprint, with all its manufacturing units in Karnataka achieving net-zero upon complete implementation.
Niklas Stoltz, Director, Sustainability said, “Orkla India’s partnership with CleanMax is about powering change. We want to set a new standard for sustainable manufacturing in India’s FMCG sector. With this partnership, Orkla India factories based out of Karnataka will run on 100% renewable electricity and at a pan India level 70% of our electricity consumption will be from renewable sources.”
Orkla India is a collection of leading local Indian food brands. It owns brands like MTR, Rasoi Magic and Eastern.
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