Jindal Stainless signed an agreement with ReNew Power to establish a utility-scale captive renewable energy project for power supply to its Jajpur, Odisha facility. The project will produce 700 million units per year using a combination of solar and wind technologies.
This project will help to accelerate the adoption of clean energy in a hard-to-abate sector. The project is in line with Jindal Stainless’ initiatives to achieve its environmental, social and governance (ESG) goals and transition to sustainable manufacturing. The company’s project ‘Samanvay’ aims to assess its preparedness as per select ESG indices and develop a strategic roadmap for the future. Additionally, the company has also proposed to forecast its GHG emissions and establish emission reduction targets in line with the Science-Based Target Initiative (SBTi).
In August 2022, Hygenco India, a company based in Haryana signed a long-term green hydrogen offtake agreement with Jindal Stainless Limited. Hygenco will be responsible to build, own, and operate a multi-MW green hydrogen facility for 20 years under the terms of the agreement.