JSW Steel has announced a collaboration with Germany’s SMS group and intends to make an investment worth Rs 100 billion to reduce carbon emissions at its plants. The SMS Group will be helping in providing expertise related to technology, designing, engineering consultancy, and commissioning to implement decarbonisation for different projects. By 2030, the company plans to reduce greenhouse gas emissions by 42 per cent to less than 1.95 tonnes of carbon dioxide per tonne of crude steel.
The company will also focus on replacing thermal power with renewable energy, increasing the use of steel scrap and beneficiation and processing of raw minerals such as low and medium-grade iron ore. The collaboration will assist JSW Steel in producing green steel in one of the most difficult-to-abate sectors.
Recently in August 2022, JSW Renew Energy Five Limited, a JSW Energy special purpose vehicle won an auction by Solar Energy Corporation of India Limited. The auction was about setting up pilot projects of 500 MW/1000 MWh standalone battery energy storage systems (BESS) under a build, own, operate, and transfer model.