Climate Energy

In 2021, Vedanta Aluminium purchased 2 billion units of clean energy

The Indian aluminum manufacturer Vedanta Aluminium Business declared that it had surpassed all other industrial consumers of renewable energy to become the country’s largest industrial buyer of renewable energy. On India’s power exchanges, such as Power Exchange India Limited (PXIL) and the Indian Energy Exchange (IEX), the company was a leader in renewable energy acquisition.

In 2021, the business expects to have bought approximately 2 billion units of renewable energy for use at its aluminum smelter in Jharsuguda, Odisha, for consumption. Its Jharsuguda plant is the leading procurer of renewable energy in India on the Green Term-Ahead Market at the Indian Exchange. In 2021, the procurement will have assisted in reducing emissions at the smelter by more than 1,540 kilotons. Moreover, the company’s subsidiary Bharat Aluminium Company (BALCO) claimed to have spearheaded the renewable power trading session in November of 2021, procuring 59 percent of the traded renewable energy certificates in the month and a total of over 2,861,700 renewable energy certificates for the year in question.

Commenting on the company’s vision for the environment, social responsibility, and governance (ESG), Mr. Rahul Sharma, who is the CEO – Aluminium Business, Vedanta Limited, stated that the company is committed to its aim of reaching net-zero carbon emissions by 2050. “That is why we have increased our efforts in three key areas: continuously increasing energy efficiency of our operations, increasing the amount of renewable power in our energy mix, and substituting fossil fuels with cleaner and more environmentally friendly alternatives – all of which are powered by developing green technologies. In 2021, we will surpass the United States as the largest industrial user of renewable energy. This achievement underscores our efforts to expand the percentage of green energy in our energy mix and speed our transition to low-carbon operations.”

In December 2021, the International Energy Exchange (IEX) exchanged 365 million units (MU) of the renewable energy, a decrease of 20.13 percent month-over-month (MoM) as compared to 457 million units (MU) in November.

Odisha’s Jharsuguda district is set to benefit from a request for proposals (RfP) made by Vedanta Limited in 2020 to install 100 megawatts (MW) of solar power. Mercom had previously reported that Vedanta Limited had issued a notification that invited expressions of interest to create a captive solar photovoltaic venture with a capacity of at least 20 MW and a maximum capacity of 50 MW in Rajasthan and that the notice had invited expressions of interest from interested parties.

According to the Mercom India Solar Open Access Market Report, 955 million units (MU) of energy were exchanged in GTAM during the second quarter of 2021. In June, the market saw the biggest volume of trading, with 412 MU sold at a price of 3.73 ($0.05)/kWh. From a high of 4.35 (0.06)/kWh in April to a low of 3.73 (0.05)/kWh in June, the price of energy trading in GTAM fell by approximately 15%.

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