Vedanta said on Monday that its aluminium business unit became the largest green power procurer in the Indian Energy Exchange (IEX) platform in the first quarter of FY22, sourcing 354 million units of renewable energy (RE)–based electricity for its aluminium production facility at Jharsuguda, in Odisha.
The power was bought through the green term-ahead-market (G-TAM) market in the IEX.
Corporate India is increasingly trying to reduce their carbon footprint and many corporate consumers already receive RE power through the ‘open access’ mechanism.
Vedanta Aluminium’s purchase of green power units is more than 35% of the green power traded on IEX in Q1 FY22. “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,” Rahul Sharma, CEO of Vedanta Aluminium Business said.
The GTAM mechanism was introduced last year by IEX which allowed more flexibility to buyers for purchasing RE electricity. The mechanism also opened up options for power distribution companies to resell renewable power that they procure from developers. Vedanta Aluminium Business in Odisha and Chhattisgarh, a division of Vedanta Limited, is the country’s largest manufacturer of aluminium. It produced 1.96 million tonnes of aluminium in FY21.