New Delhi: India’s leading stainless-steel manufacturer, Jindal Stainless, has signed a contract with renewable energy company, ReNew Power, to develop a utility-scale captive renewable energy project for the supply of power to its facility in Jajpur in Odisha.
The project will generate 700 million units per year through a mix of solar and wind technologies, said a statement issued by the company.
Commenting on the collaboration, Jindal Stainless MD Abhyuday Jindal said the step cements the company’s resolve to power future growth through renewable sources of energy only.
“Our project with ReNew Power is expected to start commercial operations by May 2024 and will aid in carbon abatement by over 6.5 lakh tonnes per year,” he said.
“Resolutely chasing our ESG goals, we reduced our carbon emissions by 1.4 lakh tonnes in FY22 through various initiatives and are committed to reach net zero carbon emissions by 2050,” Jindal said.
Founder-Chairman and CEO of ReNew Power Sumant Sinha, said, “I’m confident that the environmental and commercial benefits stemming from our partnership will inspire other manufacturing organisations to proactively procure renewable energy to power their operations. This innovative Wind-Solar hybrid system will accelerate the adoption of clean energy in a hard-to-abate sector.”
