The Award for India's largest industrial consumer of renewable energy goes to....
Vedanta Aluminium Business, India's largest producer of aluminium and value-added products, has been named the largest industrial consumer of renewable energy (RE) in 2021, taking the lead in renewable energy procurement on the country's power exchanges, the Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL)
Vedanta Aluminium Business, has announced that it will become the largest industrial consumer of renewable energy (RE) in 2021, leading renewable energy procurement on the country's power exchanges, the Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL).
The company has committed to procure approximately 2 billion units of renewable energy in 2021 for consumption at its aluminium smelter in Jharsuguda, Odisha, reducing the smelter's GHG emissions intensity by more than 1540 KtCO2e (kilo tonnes of CO2 equivalent) during the year. Vedanta Aluminium's Jharsuguda unit is the largest buyer of renewable energy in India on the IEX's Green Term Ahead Market (G-TAM).
Bharat Aluminium Company (BALCO), a subsidiary of Vedanta, has dominated the renewable energy trading session, acquiring 59% of the traded RE certificates (RECs) in November 2021 alone and over 2,861,700 RECs for the year.
Rahul Sharma, CEO — Aluminium Business, Vedanta Limited, stated the following about Vedanta Aluminium's ESG vision: "We are committed to achieving Net Zero Carbon emissions by 2050. To that end, we have intensified our efforts around three critical pillars: continuously improving operational energy efficiency, increasing the proportion of renewable energy in our energy mix, and replacing fossil fuels with greener, cleaner alternatives powered by emerging green technologies. Becoming India's largest industrial consumer of renewable energy in 2021 reflects our ongoing efforts to increase the share of green energy in our energy mix and accelerate our transition to low-carbon operations."
Senior Vice President and Head of Business Development at IEX, Rohit Bajaj, added: "The Indian Energy Exchange's (IEX) Green Market, which includes a day-ahead collective auction market and Term-Ahead Contracts, leverages innovation and technology to enable market participants to trade solar and non-solar renewable energy at the most competitive prices and with the greatest flexibility. As the market leader in the green market, Vedanta Aluminium Business has set an extremely strong precedent for the Indian manufacturing industry to increase green energy consumption in order to reduce their carbon footprint. We are extremely appreciative of Vedanta Aluminium's concerted efforts toward ensuring India's sustainable future."
Prabhajit Kumar Sarkar, Managing Director and Chief Executive Officer of Power Exchange India Ltd. (PXIL), stated: "We congratulate BALCO on being the session's top buyer in November 2021 REC trading. Industry leaders such as Vedanta Aluminium's targeted RE adoption strategy will inspire the rest of the industry to accelerate the pace of energy transition. Through the integration of renewable energy into the power markets, Power Exchange India Ltd. (PXIL) assists industries in achieving their ESG goals. India Inc's commitment to environmental, social, and economic sustainability and transactional efficiency in power markets will be critical in shaping India's energy future."
Vedanta Aluminium Business, a division of Vedanta Limited, is India's largest aluminium manufacturer, accounting for more than half of the country's aluminium production, or 1.97 million tonnes in FY21. It is a market leader in aluminium products with added value that find critical applications in critical industries.
With its world-class Aluminium Smelters, Alumina Refineries, and Power Plants in India, the company is advancing the use of aluminium as the 'Metal of the Future' for a more sustainable future.
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