The most significant clean energy company in India, delivering 17 billion units, Greenko Group, and one of the world's aluminium producers Hindalco Industries, have agreed to build a green energy project in Odisha with a capacity of 375 MW-400 MW.
On 11th August 2022, Greenko stated that the project would institute wind and solar capacity and supply power to Hindalco's aluminium smelter in Odisha.
"Hindalco Industries Limited and Greenko Energies Private Limited have entered into a commercial arrangement to set up a renewable energy (RE) project to supply 100 MW round-the-clock carbon-free power. The arrangement covers the development of 375-400 MW of solar and wind capacity," Greenko added.
"As part of the agreement, we will design, construct, partly own and operate the solar and wind facilities. The company will also make available appropriate storage capacity from its hydro pump storage project in Pinnapuram, Andhra Pradesh, to ensure continuous power supply."
However, without spilling any details on the deal's financial aspect, it has been illustrated that the project will be established as a captive power plant under a 25-year offtake arrangement of energy supply to Hindalco's Aditya aluminium smelter in Odisha, empowering carbon emission restrictions by 680,000 tonnes yearly.
Anil Kumar Chalamalasetty, the CEO and Managing Director of Greenko, said, "The Company firmly believes clean energy sources backed with competitive and proven storage technologies like hydro pump storage projects offer a competitive, reliable and sustainable alternative to consumers to support their decarbonisation journey."
Aluminium smelting production is energy-intensive, and about 17,000 kWh of electricity is required to produce 1 tonne of aluminium. Following this establishment, Hindalco will be the foremost aluminium company in India to apply such round-the-clock carbon-free power for smelting.
Satish Pai, the Managing Director at Hindalco Industries, said, "The agreement with Greenko is a significant step towards reducing our carbon footprint. We are guided by our long-term commitment of becoming net carbon-neutral by 2050."
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