1 min read.Updated: 02 Aug 2021, 07:38 PM ISTLivemint
For its largest integrated aluminium production facility at Jharsuguda, in Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX
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 FY 21-22, the company said.
For its largest integrated aluminium production facility at Jharsuguda, in Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX.
IEX is a premiere energy marketplace and is the largest power exchange in the country. GTAM, introduced last year by IEX, supports buyers in procuring green energy in the most competitive and flexible manner.
The purchase of green power from the exchange has enabled organizations like Vedanta and the industry at large to achieve their 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’s energy stewardship manifests itself through a two-pronged strategy – a sharp focus on attaining highest efficiency of assets and processes for excellent energy management, and a roadmap towards carbon neutrality that includes adopting the right mix of feasible avenues for increasing consumption share of green energy.
“Our sustainability imperatives are designed to fulfil our climate impact reduction targets, which are in complete alignment with the goals of Paris Agreement and Nationally Determined Contributions (NDC) submitted by the Government of India," said Rahul Sharma, CEO – Vedanta Aluminium Business, adding that the company's efforts have been towards adopting global best-practises in energy management and deploying advanced technologies to reduce our carbon footprint.
"Our long-term strategy focuses on migrating to low carbon energy mix, with gradual shift from fossil fuels to renewable energy, to produce green aluminium," Sharma said.
Vedanta Aluminium has significantly reduced its GHG emission intensity by 21% with 2012 as baseline and aims to reduce it by 24% in 2025 over the same baseline.