On Monday, Jindal Steel and Power Ltd. and Jindal Renewables announced a partnership to execute the largest domestic steelmaker investment in green hydrogen in India.
The firms inked a Memorandum of Understanding aimed at leading the nation’s steel industry in green energy and decarbonisation. It describes the integration of green hydrogen into the direct reduced iron (DRI) plants of Jindal Steel located in Angul, Odisha.
According to the corporation, Jindal Renewables plans to start developing a green hydrogen generation capacity of up to 4,500 tonnes annually by December 2025. In addition, the project calls for the annual delivery of 36,000 tonnes of oxygen to be used in the Angul steelworks.
According to the firm, Jindal Steel will get 3GW of renewable energy from Jindal Renewables, lowering its reliance on coal-fired electricity by 50% over the course of the next two to three years.
Our production methods now use green energy and green hydrogen, which not only lowers our carbon footprint but also establishes new standards for the Indian steel sector. The partnership demonstrates our steadfast dedication to innovation and sustainable development, according to Sanjay Singh, Director of Strategy and Corporate Affairs at Jindal Steel.
Jindal Renewables will manage the development and management of the green hydrogen and renewable energy facilities, while Jindal Steel will supply the necessary infrastructure and support.
In addition to drastically lowering the cost of producing green hydrogen, the partnership locks in offtake for the next 25 years to guarantee a long-term, sustainable economic strategy.
With a $12 billion global investment, Jindal Steel is constantly improving its operational effectiveness and capacity utilisation, grabbing chances to help India become self-sufficient.
With electricity off-take fully secured, Jindal Renewables is presently constructing around 3GW of diversified renewable assets with the goal of being a pioneer in India’s renewable energy (RE) industry.
By 2030, it hopes to have developed about 12 GW of renewable energy assets and rank among the nation’s major suppliers of decarbonisation solutions.
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