TKM -ReNew Partner in green initiative A major initiative in harnessing green energy for industry

Bengaluru: Toyota Kirloskar Motor (TKM) has reaffirmed its commitment to global environmental challenges by inaugurating the 27.2 MW Group Captive Solar and Wind Renewable Energy Project recently. This project, established in collaboration with ReNew Energy Global Plc, is located in Kudligi Taluk, Vijaynagara district of Karnataka State, where TKM's existing solar plant is also situated. The green power generated from this venture will be exclusively channeled to TKM, leading to an anticipated annual reduction of 51 kilo tons of CO2 emissions.

This achievement further solidifies TKM's track record of utilizing 100% renewable energy in grid electricity since June 2021. By offsetting a cumulative carbon footprint of 117 kilo tons between April 2021 and March 2023, TKM has demonstrated its unwavering commitment to environmental conservation throughout its product lifecycle, manufacturing operations, and services. The milestone underscores Toyota's ongoing dedication to increasing its renewable energy utilization, in line with its goal of achieving carbon neutrality.

As Toyota's business has expanded, so has its energy requirements for manufacturing operations. This new renewable energy project will meet the increased demand for green electricity at TKM. Moreover, this collaboration exemplifies TKM's ongoing efforts to minimize its carbon footprint and contribute to building a carbon-neutral society.

"We are delighted to partner with Toyota Kirloskar Motor and support their adoption of sustainable energy sources. ReNew is committed to being a catalyst for the global energy transition toward net-zero and will provide innovative solutions to help companies decarbonize their operations and achieve their climate goals," stated Mr. Rahula Kashyapa, Vice President, Business Development - B2B Business, ReNew Global Plc a NASDAQ enlisted company headquartered in Gurugram Haryana.

Mr. Sudeep. S. Dalvi, Senior Vice President, Director, and Chief Communication Officer of Toyota Kirloskar Motor, expressed his satisfaction with the announcement, stating, "We are delighted to announce the 27.2 MW Group Captive Solar and Wind Renewable Energy Project, which signifies our unwavering dedication to adopting renewable energy and enhancing our green manufacturing operations. All our vehicles are manufactured using a green energy source. This collaboration reflects our shared commitment to reducing carbon emissions and supporting India in achieving its net-zero carbon emission targets."

Since 2014, TKM has made significant strides in sourcing green energy, starting at a mere 6.0% and now achieving 100%. Through these remarkable initiatives, the company has substantially reduced its carbon footprint in plant operations.

In 2017-18, TKM took a major step towards renewable energy self-reliance by installing rooftop solar power plants and ground mount facilities with a combined capacity of 8.2 MW at its Bidadi premises. Additionally, TKM established an 18 MW Open Access installation in a dedicated solar park outside its factory premises through ReNew. These endeavors have allowed TKM to gradually increase its procurement of renewable energy since FY2014, ensuring a sustainable supply for its plant operations.

With the inauguration of the 27.2 MW Group Captive Solar and Wind Renewable Energy Project, TKM's total cumulative green energy adoption now reaches 53.4 MW. By embracing these green initiatives, TKM is galloping towards achieving "Net Zero Carbon Emission in Manufacturing" well ahead of its global target timeline of 2035.