In 2021, Vedanta Aluminium Business became India’s largest industrial consumer of renewable energy. Anil Agarwal promoted business, led to renewable energy procurement on Power Exchange India Limited (PXIL) and Indian energy Exchange (IEX).
About 2 billion units of renewable energy were acquired by the company, in 2021. And it was for the intake at its aluminium smelter in Jharsuguda, Odisha. The company statement shows that the greenhouse gas emission during the year was reduced by more than 1540 KtCO2e (kilo tonnes of CO2 equivalent).
On the Green Term Ahead Market (G-TAM) platform at IEX, Vedanta Aluminum’s Jharsuguda unit was India’s largest renewable energy buyer.
The chief executive of, aluminium business, Vedanta, Rahul Sharma said that they are dedicated to their vision of achieving net-zero carbon by 2050. Improving the energy efficiency of operations continuously, rising the quantum of renewable energy in their mix and substituting fossil fuels with greener and cleaner options are the key pillars that the company is stepping up towards. Emerging green technologies will power all these.
The business, a division of Vedanta Ltd generates half of India’s aluminium. In FY21, it produced 1,97 million tonnes.
Bharat Aluminum Company (BALCO), is Vedanta’s subsidiary that led the renewable energy trading session. In November alone, it obtained 59% of the traded RE certificates (RECs). In a year, a total of over 2,861,700 RECs were obtained.
The senior vice president and head of business development, IEX, Rohit Bajaj said that term-ahead innovation leverage contracts and day-ahead collective auction market include the green market of that Indian Energy Exchange.
In the Greenmarket, Vedanta Aluminium Business has set up strong seniority for the Indian manufacturing industry to change to green energy consumption and decrease their carbon footprints, he added. The endeavour was appreciated by him.
Across India, Vedanta Resources Ltd has operations in zinc, copper, silver, oil and gas, power, steel and aluminium across India, Namibia and South Africa.
During the November 2021 REC trading session, Prabhajit Kumar Sarkar, MD & CEO of the Power Exchange India Ltd. (PXIL) congratulated BALCO for becoming the leading buyer.