Jindal Stainless keen to invest in renewables: MD Abhyuday Jindal

There will be no more investments in thermal energy: Jindal

Jindal Stainless Limited (JSL) is keen make an investment in the renewable energy sector to set up 300 MW solar and wind capacities in three states, its MD Abhyuday Jindal said.

There will be no more investments in thermal energy, he told PTI.

However, the industrialist did not specify the amount JSL intends to invest to set up the renewable capacity.

"It will be very premature to give any figure. But we are keen to invest in the renewable sector. The capacities will be both solar and wind," Jindal said speaking on the sidelines of the Global Stainless Steel Expo (GSSE) 2022.

When asked about the capacity and the locations of the project, he replied 300 MW of solar and wind energy capacity will be set up in Odisha, Haryana and Rajasthan.

The green energy generated from the project will be used to manufacture stainless steel as "we are expanding," Jindal said.

The country's largest stainless steel maker Jindal Stainless owns and operates 1.1 million tonne per annum (MTPA) plant in Jajpur, Odisha. The company sources energy from its 264 megawatt MW captive thermal power plant, to run the unit.

JSL is expanding the capacity at Jajpur by another 1 MT to 2.1 MTPA.

"As part of the government's mission of carbon-neutrality, JSL is also keen to move on to renewable sources to manufacture stainless steel. Phasing out of our existing thermal capacity would depend on government rules and regulations," he said.