Jindal Steel & Power (JSP) has signed a memorandum of understanding (MoU) with renewables developer Greenko Group to facilitate 1 GW of carbon-free energy for its steel-making operations at Angul in the Indian state of Odisha.
Greenko will assist JSP in the design of the comprehensive energy solution including the design and development of the associated renewable energy capacity, identification of potential strategic investors for the RE capacity, and making available energy storage capacity.
The proposed 1 GW of carbon-free energy is targeted to meet the existing and incremental power demand of JSP’s Angul facility. “This is amongst the largest commitment by any Indian industrial group, particularly steel producers in India, to use clean energy in core industrial processes,” JSP stated in a media release. “Once completed, it will ensure the reduction of approximately 7 million tonnes of CO2 annually.”
As part of the proposed transaction, Greenko Group shall offer energy storage capacity from its off-stream closed-loop pumped storage project under development in Madhya Pradesh and Rajasthan.
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