Jindal Steel & Power has inked a memorandum of understanding (MoU) with Greenko Group to facilitate 1,000 MW of carbon-free energy for its steel-making operations at Angul, Odisha.
Greenko will assist JSP in the design of the comprehensive energy solution including the design & development of the associated RE capacity, identification of potential strategic investor(s) for the RE capacity and making available energy storage capacity.
The proposed 1,000 MW carbon-free energy is targeted to meet the existing and incremental power demand of JSP’s Angul facility.
This is amongst the largest commitment by any Indian Industrial Group, particularly steel producers in India, to use clean energy in core industrial processes.
Once completed, it will ensure the reduction of approximately seven million tonne of CO2 annually. As part of the proposed transaction, Greenko Group shall offer energy storage capacity from its Off Stream Closed Loop Pumped Storage Project (OCPSP) under development in Madhya Pradesh and Rajasthan.
