Vedanta Aluminium India’s Leading Industrial Purchaser of Renewable Energy in 2021
(EPT): Vedanta Aluminium Business has become the biggest industrial purchaser of renewable energy (RE) in 2021, leading renewable energy procurement on the country’s power exchanges – Indian Energy Exchange (IEX) & Power Exchange India Limited (PXIL).
Vedanta Aluminium Business, a division of Vedanta Limited, is India’s largest producer of aluminium & value-added aluminium products, Vedanta Aluminium Business produces more than half of India’s aluminium, It produced 1.97 million tonnes in FY21.
Vedanta Aluminium’s Jharsuguda unit was also India’s largest renewable energy buyer on Green Term Ahead Market (G-TAM) platform at IEX, the company procured about 2 billion units of renewable energy (RE) in calendar year 2021 for consumption at its aluminium smelter in Jharsuguda, Odisha, reducing green house gas emissions by more than 1540 KtCO2e (kilo tonnes of CO2 equivalent) during the year, according to company statement.
Vedanta’s subsidiary Bharat Aluminium Company (BALCO) has led the renewable energy (RE) trading session, procuring 59% of the traded RE certificates (RECs) in November 2021 alone, & a total of over 2,861,700 RECs in the year.
Rahul Sharma, Chief Executive Officer (CEO), Aluminium Business, Vedanta Limited, stated: “We are committed to our vision of achieving Net Zero Carbon by 2050. To that end, we have stepped up our endeavours along key three pillars – continuously improving energy efficiency of operations, increasing the quantum of renewable energy in our energy mix, and replacing fossil fuels with greener and cleaner alternatives – all powered by emerging green technologies.
Becoming India’s largest industrial consumer of RE in 2021 reflects our persistent endeavours to increase the share of green power in our energy mix and accelerate our transition into low-carbon operations.”
Rohit Bajaj, senior vice president & head, business development, IEX, said, that Indian Energy Exchange’s green market comprising day-ahead collective auction market as well as the term-ahead contracts leverages innovation and technology offer market participants an opportunity to trade in solar and non-solar renewable energy at the most competitive prices, and in a flexible manner.
Prabhajit Kumar Sarkar, Managing Director (MD) & Chief Executive Officer (CEO) – Power Exchange India Limited (PXIL), said: “We congratulate Bharat Aluminium Company (BALCO) for being the leading buyer in the November 2021 REC trading session. Focused RE adoption strategy by industry leaders such as Vedanta Aluminium shall inspire the industry at large to accelerate the pace of energy transition.
Power Exchange India Limited (PXIL) is helping industries achieve their ESG goals through integration of renewables in the power markets. India Inc’s commitment to ESG and transactional efficiency through power markets will play a critical role in shaping India’s energy future.”
It is a leader in value-added aluminium products that find critical applications in core industries. with its world class aluminium smelters, alumina refinery and power plants, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.