Committed to Net Zero emissions by 2050, Jindal Stainless has partnered with ReNew Power to setup ~300 MW renewable energy project for its Jajpur, Odisha facility. The utility-scale captive renewable energy project will generate 700 million units per year through a mix of solar and wind technologies. The project will start commercial operations by May 2024, and will help Jindal Stainless abate carbon emissions by over 6.5 lakh tonnes per year. In April this year, Jindal Stainless announced its plans to switch from thermal to green energy.
"Aligned with India’s net-zero carbon emissions goal, Jindal Stainless is committed to power future growth through renewable sources of energy only and this step further cements our resolve. 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,” said Abhyuday Jindal, MD, Jindal Stainless.
During FY2021-22, Jindal Stainless initiated a switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar & wind power, Green Hydrogen, and the usage of biofuels. The company has already reduced carbon emissions by 1.4 lakh tonnes in FY22 through various initiatives. Additionally, the Company has also proposed to forecast its GHG emissions and establish emission reduction targets in line with the Science-Based Target Initiative (SBTi). As manufacturing through the scrap route is relatively low on carbon emission, Jindal Stainless is using more than 85 per cent of scrap in one production.
In addition, Jindal Stainless Hisar Limited (JSHL), which is expected to be merged with Jindal Stainless by the end of this financial year, is working towards installing a Green Hydrogen Plant for manufacturing processes that will enable the company to reduce its CO2 emissions by nearly 2,700 metric tonnes per annum. Stainless steel is the most sustainable material because it is 100 per cent recyclable and contributes to a circular economy.
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