Multinational Hindalco Industries Limited, the metals flagship of Aditya Birla Group, and Greenko Energies Private Limited entered into a commercial agreement to establish a renewable energy (RE) project for the supply of 100 mw carbon-free power round the clock. The agreement covers the development of 375-400 mw of solar and wind capacity.
The RE project will be established as a captive generation facility under a 25-year purchase agreement and will supply power to the Aditya Birla aluminum smelter in Odisha. This will reduce emissions through the competitive advantage of supply compared to other more expensive types by 680,000 tons/year.
Both parties are planning to finalize the power purchase agreement as one of the supplementary agreements in the medium term. The Hindalco company will be one of the first in the world to use aluminum with solar and wind energy. The smelter will be the first to use this very high reliability (+85%) to produce aluminum without dependence on access to electricity through the grid.
The Greenko company will develop, build, manage and partially control the solar and wind installations. Greenko will also improve the adequate storage capacity of its solar project in Pinnapuram, Andhra Pradesh to ensure continuous power supply.
Precisely, the RE project carries forward Hindalco’s vision of responsible and sustainable manufacturing. In recent years, Hindalco has already invested in more than 100 MW of solar and wind energy. The RE project adds 100 MW (RTC) of captive power and upgrading to 350 MW of all-day carbon-free power will be explored in the future. The renewable energy initiative is aligned with Hindalco’s commitment to become net carbon neutral by 2050.
For his part, Satish Pai, CEO of Hindalco, commented on the agreement with Greenko, that they have made the steel industry integral to their expansion plans and have shaped their climate actions according to their own ESG approach. The agreement is an important step towards reducing carbon emissions and consolidating its status as the world’s leading insurer in terms of energy resource quality, a company that has plans to become net carbon neutral by 2050. They are proud to partner strongly with Greenko on this bold journey.
“We at Greenko strongly believe that clean energy sources backed by competitive and proven storage technologies such as the RE project globally, thus committing very high reliability to Hindalco, are a competitive, reliable and sustainable alternative to consumers to support their decarbonization journey,” said Anil Kumar Chalamalasetty, CEO and managing director of Greenko. The firm is committed to taking this partnership further with Hindalco to become a net carbon neutral company by 2050.
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