Apraava Energy has announced that it obtained the Science Based Targets initiative (SBTi) approval for its decarbonisation objective. Apraava’s goal is to decrease the intensity of its greenhouse gas (GHG) emissions, specifically in scope 1 and scope 2, by 46.3 per cent by 2027, relative to the 2022 baseline. The validation team of the SBTi has determined that Apraava’s goal aligns with the 1.5ºC pathway outlined in the Paris Agreement.
Through its alignment with SBTi targets, the company is utilising the most current climate science to undertake ambitious actions in response to climate change.
In August 2023, Apraava Energy signed a MoU with REC Limited and Power Finance Corporation Limited to raise Rs 91.2 billion for its transmission, wind and advanced metering infrastructure projects in India.
In the same month, Apraava Energy secured two interstate transmission projects in Rajasthan. The projects would be a part of the Phase 3 plan to evacuate 20 GW of power from renewable energy zones in the state.