Vedanta on Thursday said it has procured about 2 billion units of renewable energy through power exchanges for its aluminium smelter located in Jharsuguda, Odisha.
Vedanta Aluminium’s business has become the largest industrial consumer of renewable energy in 2021, leading renewable energy procurement on India’s power exchanges– Indian Energy Exchange (IEX) and Power Exchange India Ltd (PXIL).
“The company has procured about 2 billion units of RE power in the year 2021 for consumption at its Aluminium Smelter in Jharsuguda, Odisha, thereby reducing GHG emissions intensity at the smelter by more than 1540 KtCO2e (kilo tonne of CO2 equivalent) in the year,” the company said in a statement.
Vedanta Aluminium’s Jharsuguda unit is the country’s largest renewable energy buyer on Green Term Ahead Market (G-TAM) platform at IEX, the statement said.
Vedanta’s subsidiary Bharat Aluminium Company (Balco) has led the renewable energy trading session, procuring 59 per cent of the traded RE certificates (RECs) in November 2021 alone, and a total of over 2,861,700 RECs in the year.
“We are committed to our vision of achieving net zero carbon by 2050. To that end, we have stepped up our endeavours along key three pillars – continuously improving energy efficiency of operations, increasing the quantum of renewable energy in our energy mix, and replacing fossil fuels with greener and cleaner alternatives – all powered by emerging green technologies.
“Becoming India’s largest industrial consumer of RE in 2021 reflects our persistent endeavours to increase the share of green power in our energy mix and accelerate our transition into low-carbon operations,” Rahul Sharma, CEO –aluminium business, Vedanta Ltd, said.
Rohit Bajaj, Senior Vice President and Head – Business Development, IEX said, as the leading industry participant in the Green Market, Vedanta Aluminium business has indeed set a very strong precedence for the Indian manufacturing industry to step up green energy consumption towards reducing their carbon footprint.
Focused RE adoption strategy by industry leaders such as Vedanta Aluminium will inspire the industry at large to accelerate the pace of energy transition, Prabhajit Kumar Sarkar, MD & CEO, Power Exchange India said.
