 "IMFA partners with JSW Green Energy for renewable power in smelting ops")
Odisha-based Indian Metals & Ferro Alloys Ltd (IMFA), a ferrochrome producer, entered into a joint venture with JSW Green Energy to source renewable energy for its smelting operations, officials said on Wednesday.
In a statement, the company said IMFA 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 megawatt (MW) AC solar and 100 MW of 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, it added.
IMFA vice-president Binoy Agarwalla said, "By combining solar and wind power, we are taking a proactive step towards a green future and aligning with the global trend of sustainability." The company also mentioned that it is setting up a 1 lakh tonne per annum greenfield facility at Kalinganagar, Odisha, to augment its ferrochrome production in line with increasing demand.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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