Hybrid energy project likely to start by 2024: Jindal Stainless Managing Director Abhyuday Jindal

The 300 MW hybrid project in partnership with ReNew is expected to commence operation in the next 18 months, Jindal Stainless Managing Director Abhyuday Jindal has said.

In December 2022, Jindal Stainless Ltd (JSL) partnered with ReNew to develop the proposed 300 MW hybrid energy project.

When asked about the timeline of the project, Jindal told PTI, "We (JSL and ReNew) are on track on the pact. That project is 300 MW. Land acquisition has already been completed for the project".

The project will start in the next one and a half years' time, he said.

On the company's hydrogen project, the MD said it is expected to start in July this year.

In August 2022, the country's largest stainless steel player partnered with Hygenco India Private Limited to set up a green hydrogen plant.

"These green initiatives are part of our mission to switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives," he said.

The company will continue to take proactive steps to reduce carbon emissions of its present and planned capacities, Jindal said.

JSL is also in process of investing Rs 120 crore to set up a 21 MW rooftop solar capacity at its Jajpur unit and another 6 MW in the Hisar facility, he added.

The energy generated from the solar, wind and hydrogen units will be used in various processes of stainless steel-making plants, he said.

In FY22, JSL reduced its carbon emissions by 1.4 lakh tonnes and aims to become carbon neutral by 2050, Jindal said.