Jindal Stainless Plans Rs 700 Crore Investment In Renewable Projects: Report

Jindal Stainless Plans Rs 700 Crore Investment In Renewable Projects: Report

Stainless steel company Jindal Stainless Ltd (JSL) will invest Rs 700 crore over the course of the next three years regarding renewable energy projects. According to media reports, this will be done to reduce its carbon footprint, including the embedded emissions across its offerings.

Media reports quoting Abhyuday Jindal, Managing Director, JSL, stated that investments will come from internal resources. The projects will be established in Haryana’s Hisar and Odisha’s Jajpur. These projects will be of 300-350 MW capacity and will be established at manufacturing units in Hisar and Jajpur.

Further, JSL has also marked 15 projects for further development. These include 100 MW renewable energy – round-the-clock projects at Jajpur and Hisar along with 23 MWp Rooftop Solar, 7 MW Floating Solar, and 4.5 MWp Rooftop at Hisar.

Jindal Stainless (JSL) yesterday also commenced the maiden usage of green hydrogen in its stainless steel plant in Hisar, Haryana. The commissioning was inaugurated by Union Minister of Steel and Civil Aviation, Jyotiraditya Scindia virtually from New Delhi. The plant has both renewable and gas units. It is being developed in partnership with Hygenco Ltd on a long-term Build-Own-Operate-Transfer basis. This will consist of a 2.8-MWp rooftop unit and a floating solar; 1.6-MW advanced electrolyzer, hydrogen storage and purification unit critical plant control technology, among others.

“JSL along with Hygenco energies established India’s first Hydrogen plant in the stainless steel sector. This is being done by putting up solar panels on rooftops and water reservoirs. In stainless steel production consumption of Hydrogen and Ammonia takes place. Now Green Hydrogen will be consumed which will have a huge impact on the quality of stainless steel. The main focus is India as the market is huge and also the fact that the government is investing in all the right sectors here. If India is growing at eight or eight and a half percent, the stainless steel sector is growing at 10 percent. Last year we expanded into 1 million tons which is sufficient for the next 2 to 3 years,” news agency ANI quoted Abhyuday Jindal as saying.