Vedanta Aluminium Business, India’s largest producer of aluminium and value-added products, became India’s largest green power purchaser on the Green Market at the Indian Energy Exchange Limited (IEX) platform in Q1 FY 21-22. For its largest integrated aluminium production facility at Jharsuguda, in Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX.
IEX is a premiere energy marketplace and is the largest power exchange in the country. GTAM, introduced last year by IEX, supports buyers in procuring green energy in the most competitive and flexible manner. The purchase of green power from the exchange has enabled organisations like Vedanta and the industry at large to achieve their carbon-mitigation targets while producing ‘green’ value-added products. Vedanta Aluminium’s purchase of green power units is more than 35% of the green power traded on IEX in Q1 FY22.
Vedanta Aluminium’s energy stewardship manifests itself through a two-pronged strategy – a sharp focus on attaining highest efficiency of assets and processes for excellent energy management, and a roadmap towards carbon neutrality that includes adopting the right mix of feasible avenues for increasing consumption share of green energy.
Speaking about Vedanta’s approach towards carbon mitigation, Rahul Sharma, CEO – Vedanta Aluminium Business said, “Our sustainability imperatives are designed to fulfil our climate impact reduction targets, which are in complete alignment with the goals of Paris Agreement and Nationally Determined Contributions (NDC) submitted by the Government of India. To that end, our efforts have been towards adopting global best-practices in energy management and deploying advanced technologies to reduce our carbon footprint. Our long-term strategy focuses on migrating to low carbon energy mix, with gradual shift from fossil fuels to renewable energy, to produce green aluminium.”
Appreciating Vedanta Aluminium’s green energy stewardship, Rohit Bajaj, Senior Vice President & Head-Business Development, IEX, said, “At IEX, our constant focus has been to build a customer centric energy marketplace leveraging innovation and technology towards building India as a sustainable and efficient energy economy. The Green Term-Ahead Market offers the market participants an opportunity to trade in delivery based solar and non-solar renewable energy at the most competitive prices in a flexible manner. The market segment has been operational for over a year now and has received splendid response from industries, especially the energy intensive ones as well as the distribution utilities.”
“IEX congratulates Vedanta Aluminium Business for being a leading participant in the green market and greatly appreciates their efforts in inspiring the industry at large to step up green energy procurement and reduce carbon footprint. We believe India Inc. has a vital role to play in building a sustainable energy future for the industry and our country.”
Vedanta Aluminium Business in Odisha & Chhattisgarh, a division of Vedanta Limited, is India’s largest manufacturer of aluminium, producing half of India’s aluminium i.e. 1.96 million tonnes in FY21. It is a leader in value-added aluminium products that find critical applications in core industries. With its world-class Aluminium Smelters, Alumina Refinery and Power Plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.