Jindal Stainless arm signs power purchase agreement with Sunsure Energy

Jindal Stainless announced that its Ghaziabad-based subsidiary, JSL Super Steel, has signed a power purchase agreement (PPA) with Sunsure Energy to source 11 MWp of solar power from Sunsure's 49 MWp Solar Project in Augasi, Uttar Pradesh.

Under the agreement, JSL Super Steel will source 11 MWp of solar power, displacing nearly 40% of its conventional energy consumption with clean energy. This project is part of the Uttar Pradesh State Power Banking Policy, aligning with the states vision for energy security and efficient power management. Sunsure Energys partnership with JSL Super Steel will further strengthen its mission to advance Indias commercial and industrial renewable energy adoption.

The partnership will enable JSL Super Steel to receive 16.5 million units (MUs) of clean energy annually, helping the company offset 12 million kilograms of carbon emissions per yearequivalent to planting over 545,000 trees. This initiative supports Indias growing push for green steel production, an industry-wide transformation aimed at reducing emissions in one of the most energy-intensive sectors.

Jagmohan Sood, wholetime director and chief operating officer of Jindal Stainless, said, This partnership is also a part of Jindal Stainless short-term goal of reducing 50% carbon emissions by 2035. As leaders in the stainless steel industry, we deem it our responsibility to usher in cleaner routes of production, such as the introduction of green hydrogen, the use of biofuels, increasing renewable energy share from the grid, etc., at every step of the value chain.

Shashank Sharma, founder, chairman, and CEO, said, Through this agreement, Jindal Stainless is leading the way for the metal industry in Uttar Pradesh by sourcing power from renewable sourcesdemonstrating that clean energy is not just an option, but the future of industrial progress. Jindal Stainless has a strong reputation for pioneering sustainability initiatives, and we are proud to welcome them into our growing family of esteemed customers.

Jindal Stainless is Indias leading stainless-steel manufacturer of Stainless Steel flat products, in Austenitic, Ferritic, Martensitic and Duplex grades in India used in a variety of industries like automobile, railways, construction, consumer goods, etc.

Jindal Stainless reported a 5.4% decline in consolidated net profit to Rs 654.84 crore in Q3 FY25 as against Rs 692.33 crore posted in Q3 FY24. However, revenue from operations rose 8.5% YoY to Rs 9,907.30 crore in the quarter ended 31 December 2024.

Shares of Jindal Stainless declined 2.11% to Rs 512.30 on Wednesday, 9 April 2025. The Indian stock market is shut today for Shri Mahavir Jayanti.

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