APM Terminals Pipavav Taps CleanMax for Renewable Energy Boost

APM Terminals Pipavav has agreed to a 25-year partnership with CleanMax to supply power from a hybrid wind-solar project in Gujarat. This deal underscores APM's commitment to achieving net-zero emissions by 2040 and involves a phased project capable of reducing CO2 emissions sharply.

In a significant move towards sustainability, APM Terminals Pipavav has inked a 25-year agreement with CleanMax, a renewable energy provider backed by Brookfield, to source power from a hybrid project. The deal aims to fortify APM Terminals' commitment to achieving net-zero emissions by 2040.

The partnership involves a Power Purchase Agreement for a hybrid Wind-Solar Power Project in Gujarat, designed to cut APM Terminals' scope 1 and 2 emissions by 65% by 2030, relative to 2022 levels. The project features a mix of wind and solar capacities and was rolled out in two phases.

The innovative energy solution is set to deliver approximately 54 lakh kWh of electricity annually to APM Terminals' port operations, significantly reducing CO2 emissions equivalent to planting over 2.24 lakh trees yearly. Executives believe this collaboration will meet both companies' renewable energy goals.

(With inputs from agencies.)