Indian Metals & Ferro Alloys Ltd (IMFA), a ferro chrome producer, has partnered with JSW Green Energy to incorporate renewable energy into its operations.
The joint venture aims to reduce IMFA’s carbon footprint and align with global sustainability goals.
The agreement involves IMFA signing a binding term sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd.
Under the deal, IMFA will invest ₹83.26 crores in a hybrid renewable energy project that combines 50 MW AC solar and 100 MW wind power.
IMFA has a total contracted capacity of 70 MW. It will operate as a captive consumer under a 25-year power purchase agreement (PPA). This ensures efficient and sustainable energy use for its operations.
Commitment to Sustainability
Binoy Agarwalla, Vice President and Head of Power Business Unit at IMFA, said, “Renewable energy plays a critical role in reducing our carbon footprint. This solar and wind hybrid project reinforces our commitment to sustainability. It also aligns with global trends in green energy adoption.”
Expanding Ferro Chrome Production
Beyond renewable energy adoption, IMFA is expanding its ferro chrome production capabilities. The company is constructing a greenfield facility in Kalinganagar, Odisha, with an annual production capacity of 1,00,000 tons.
The development will address the rising demand for ferro chrome, a vital component in stainless steel manufacturing.
A Model for Sustainable Practices
The partnership between IMFA and JSW Green Energy sets a benchmark for integrating renewable power into energy-intensive industries.
As reported by manufacturingtodayindia.com, IMFA adopts sustainable practices. This demonstrates its commitment to supporting India’s transition to cleaner energy solutions. It is paving the way for a greener industrial future.
