LG Electronics India Signs Solar PPAs for Renewable Energy Transition
Filing Summary
LG Electronics India Limited has entered into long-term solar Power Purchase Agreements (PPAs) with Hinduja Renewables Energy Private Limited and Sunsure Energy. These agreements will supply over 3.2 crore units of renewable energy annually to its manufacturing plants in Pune and Greater Noida. The initiative aims to offset approximately 0.61 million metric tonnes of CO2e over the project lifetime. The agreements, effective from the second quarter of 2026, mark LG Electronics India’s first strategic equity investment in an Indian special purpose vehicle for power generation.
LG Electronics India Limited has signed long-term solar Power Purchase Agreements (PPAs) with Hinduja Renewables Energy Private Limited and Sunsure Energy. These agreements are part of the company’s strategy to transition its manufacturing operations to renewable energy sources. The PPAs will supply over 3.2 crore units of clean electricity annually to the company’s facilities in Pune and Greater Noida.
The financial terms of the agreements include a 9.80 megawatt peak (MWp) solar PPA with Hinduja Renewables for the Pune facility and an 11 MWp solar PPA with Sunsure Energy for the Greater Noida facility. The renewable energy sourced through these agreements is expected to collectively offset around 0.61 million metric tonnes of CO2e over the project lifetime.
The scope of the agreements involves Hinduja Renewables supplying 1.61 crore units of clean power annually from its 27.7 MWp solar plant in Nanded, Maharashtra. This will meet 40% of the Pune facility’s energy needs. Sunsure Energy will supply approximately 1.6 crore units of renewable electricity annually from its 82.5 MWp solar plant in Erach, Uttar Pradesh, meeting around 30% of the Greater Noida facility’s energy requirements. This will increase the total renewable energy consumption at the Greater Noida plant to approximately 50%.
The agreements align with LG Electronics India’s commitment to sustainable manufacturing and its participation in the RE100 initiative, which aims for 100% renewable energy usage. The initiative also supports India’s net-zero ambitions for 2070 by integrating clean energy into the company’s production ecosystem.
The agreements are set for a period of 25 years and will commence in the second quarter of 2026. This marks LG Electronics India’s first strategic equity investment in an Indian special purpose vehicle for power generation.
Hinduja Renewables Energy Private Limited is a leading Independent Power Producer in India, focusing on utility-scale, commercial, industrial, and rooftop projects. The company is committed to delivering reliable green power solutions and aims to expand its capacity to 10 GW by 2030.
LG Electronics India Limited was established in 1997 and focuses on consumer electronics and B2B businesses, including home appliances and commercial displays. The company operates manufacturing units in Greater Noida and Pune, producing LED TVs, air conditioners, and other electronic products.