The Company has purchased 354 million units of renewable energy in FY22 from the IEX Green-Term Ahead Market.
August 06, 2021
Vedanta Aluminium Business, India’s largest producer of aluminium and value-added products, became India’s largest green power purchaser on the Green Market at the Indian Energy Exchange Limited (IEX) platform in Q1 of FY21-22. For its largest integrated aluminium production facility at Jharsuguda, Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX.
The purchase of green power from the exchange reflects the company’s endeavours to attain the carbon-mitigation targets while producing ‘green’ value-added products. Vedanta Aluminium’s purchase of green power units is more than 35% of the green power traded on IEX in Q1 FY22.
Vedanta Aluminium bagged three Gold Awards at the Society of Energy Engineers and Managers (SEEM) National Energy Management Awards 2020 for outstanding energy performance by its Aluminium Smelters I & II and Captive Power Plant at Jharsuguda.
Vedanta’s Smelter-I at Jharsuguda and Alumina Refinery at Lanjigarh, also bagged ‘First Prize’ each at prestigious National Energy Conservation Awards 2020 (NECA 2020) by the Bureau of Energy Efficiency (BEE), Government of India.
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Speaking on their approach towards carbon mitigation, Mr. Rahul Sharma, CEO, Vedanta Aluminium Business said, “Our sustainability imperatives are designed to fulfill our climate impact reduction targets, which are in a complete alignment with the goals of Paris Agreement and Nationally Determined Contributions (NDC) submitted by the Government of India. To that end, our efforts have been towards adopting global best practices in energy management and deploying advanced technologies to reduce our carbon footprint. Our long-term strategy focuses on migrating to the low carbon energy mix, with gradual shift from fossil fuels to renewable energy, to produce green aluminium.”
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Appreciating Vedanta Aluminium’s green energy stewardship, Mr. Rohit Bajaj, Senior Vice President & Head-Business Development, IEX, said, “At IEX, our constant focus has been to build a customer-centric energy marketplace leveraging innovation and technology towards building India as a sustainable and efficient energy economy. The Green Term-Ahead Market offers the market participants an opportunity to trade in delivery based solar and non-solar renewable energy at the most competitive prices in a flexible manner.”
