Bhubaneswar: Indian Metals & Ferro Alloys Ltd (IMFA), the country’s leading fully integrated producer of ferro chrome, announced a joint venture with JSW Green Energy to source renewable energy for its smelting operations.
IMFA has signed a binding term sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd, and will invest Rs 83.26 crore in a hybrid project that combines 50 MW AC solar and 100 MW wind for a total contracted capacity of 70 MW. The company will subsequently sign a power purchase agreement (PPA) as a captive consumer which will be valid for 25 years.
Binoy Agarwalla, Vice-President & Head of Power Business Unit said, “As a pioneer in the ferro alloys industry with backward integration into captive power, renewable energy is a key aspect of reducing our carbon footprint. By combining solar and wind power, we are taking a proactive step towards a green future and aligning with the global trend of sustainability.”
IMFA is putting up a 100,000 tonnes per annum greenfield facility at Kalinganagar, Odisha to augment its ferro chrome production in line with increasing demand, he added.
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