Jindal Stainless Investing in Renewable Energy
Key Ideas
- Jindal Stainless is investing Rs 132 crore to generate 282 MW of renewable energy from solar and wind projects to reduce reliance on fossil fuels.
- The company aims for net-zero emissions by 2050 and plans to invest Rs 700 crore to establish renewable energy projects generating 900 MW of renewable energy.
- Recent projects include a 30 MW solar power plant in Orissa, a green hydrogen project in Haryana producing 350 Nm3 of green hydrogen gas per hour, and a Power Purchase Agreement with Sunsure Energy for 11 MW of green energy.
- Through acquisitions, partnerships, and in-house projects, Jindal Stainless is making significant strides towards sustainability and reducing its environmental impact.
Jindal Stainless is making substantial investments in renewable energy projects to shift towards green energy sources and reduce its reliance on fossil fuels. The company has invested Rs 132 crore to develop 282 MW of renewable energy from solar and wind projects and aims to cut down its carbon footprint. Their commitment to sustainability includes targeting net-zero emissions by 2050, with plans to invest Rs 700 crore in renewable energy projects capable of producing 900 MW. Recent initiatives include acquiring a stake in Oyster Green for developing renewable energy projects, commissioning a 30 MW solar power plant in Orissa, and launching a green hydrogen project at their Hisar plant in Haryana. The green hydrogen project, developed in partnership with Hygenco Green Energies, has the capacity to produce 350 Normal Cubic meters of green hydrogen gas every hour. Additionally, the company signed a Power Purchase Agreement with Sunsure Energy for 11 MW of green energy to fulfill a substantial portion of the energy needs of their Gaziabad plant. These strategic moves demonstrate Jindal Stainless' commitment to sustainability, emissions reduction, and transitioning towards cleaner energy sources.
Topics
India
Renewable Energy
Environmental Impact
Sustainability
Investment
Power Generation
Partnerships
Acquisitions
Emissions Reduction
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