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Jindal Steel and Power (JSP) has entered into an agreement for the supply of green power at 1,000 MW with Greenko, a clean energy company.
JSP stated in a statement that Greenko will provide the clean power needed to run its steelmaking operations at Angul (Odisha) under the Memorandum of Understanding.
The move was made to reduce CO2 emissions in accordance with ESG goals. It stated that green energy will be used to reduce approximately 7 million tonnes CO2 per year at Angul in Odisha.
The 1,000 MW of carbon-free energy proposed is intended to meet the incremental power demand at Angul. Greenko Group will provide energy storage capacity through its Off Stream Closed Loop Pumped Storage Project, (OCPSP), which is currently under development in Madhya Pradesh.
Bimlendra Jha, JSP’s Managing Director, stated that “We already have Green Hydrogen Ready DRI Units at Angul using Syngas.” Greenko’s collaboration is intended to re-affirm our commitment to our sustainability goals. Anil Chalamalasetty, Greenko’s Managing Director and Founder, stated that increasing the use of carbon-free electricity will not only reduce India’s carbon footprint but also make Greenko stand out in global markets. JSP, an industrial powerhouse, has significant investments in the steel, mining, and infrastructure sectors.
The Greenko Group, Hyderabad, is one of the largest Renewable Energy companies in India. It has a total installed capacity for 7.5 GW and includes solar, wind, and hydro generation assets. They are located in 15 states.