Vedanta Aluminium Business has emerged as a largest industrial consumer of renewable energy (RE) in 2021, leading renewable energy procurement on power exchanges – Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL). The Company has procured about 2 billion units of RE power in the year 2021 for consumption at its Aluminium Smelter in Jharsuguda, Odisha.
It has resulted in reducing GHG emissions intensity at the smelter by more than 1540 KtCO2e (kilo tonnes of CO2 equivalent) in the year.
Vedanta Aluminium’s Jharsuguda unit is India’s largest renewable energy buyer on Green Term Ahead Market (G-TAM) platform at IEX.
Vedanta’s subsidiary Bharat Aluminium Company (BALCO) located in Korba, Chhattisgarh has led the renewable energy trading session, procuring 59% of the traded RE certificates (RECs) in November 2021 alone, and a total of over 2,861,700 RECs in the year.
Rahul Sharma, CEO – Aluminium Business, Vedanta Limited, said, “We are committed to our vision of achieving Net Zero Carbon by 2050.”
“To that end, we have stepped up our endeavours along key three pillars – continuously improving energy efficiency of operations, increasing the quantum of renewable energy in our energy mix, and replacing fossil fuels with greener and cleaner alternatives – all powered by emerging green technologies.”, Sharma said.
Rohit Bajaj, Senior Vice President and Head – Business Development, IEX, added, “Indian Energy Exchange’s (IEX) Green Market comprising the Day-ahead collective auction market as well as the Term-Ahead Contracts leverages innovation and technology to offer market participants an opportunity to trade in solar and non-solar renewable energy at the most competitive prices, and in a flexible manner.”
Prabhajit Kumar Sarkar, MD & CEO – Power Exchange India Ltd. (PXIL), said, “Power Exchange India Ltd. (PXIL) is helping industries achieve their ESG goals through integration of renewables in the power markets. India Inc’s commitment to ESG and transactional efficiency through power markets will play a critical role in shaping India’s energy future.”
Vedanta Aluminium Business, a division of Vedanta Limited, is India’s largest manufacturer of aluminium, producing half of India’s aluminium i.e., 1.97 million tonnes in FY21.
It is a leader in value-added aluminium products that find critical applications in core industries. With its world-class Aluminium Smelters, Alumina Refinery and Power Plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.