By Fabiana Negrin Ochoa
Maruti Suzuki India Ltd. is bolstering its green manufacturing efforts with a new solar power plant in northern India.
India's largest car maker by market value said Friday that it is investing over 200 million rupees ($2.7 million) in a carport-style photovoltaic solar power plant at its manufacturing site in Gurugram, India.
The solar plant will help meet the internal energy requirements of the Gurugram site while also serving as a roof for the car park, Maruti said. It should offset 134,750 tons of carbon dioxide emissions over 25 years, the company said.
The average passenger vehicle emits about 4.6 metric tons of CO2 a year, according to an estimate by the U.S. Environmental Protection Agency.
The car maker has an ESG rating of BB from MSCI, implying an industry-average ESG performance. Peers Bajaj Auto and Hero MotoCorp are also in MSCI's three-tiered average band but rated at BBB and A, respectively.
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