Jindal Steel & Power, has signed an MoU with Greenko Group to facilitate 1000 MW of carbon-free energy for its steel-making operations at Angul, Odisha.
The MoU signing is keeping in line with its goal to become a net zero steel company by 2035.
As per a release issued by the steel maker, Greenko will assist JSP in the design of the comprehensive energy solution – including the design & development of the associated renewable energy capacity, identification of potential strategic investor(s) for the RE capacity, and making available energy storage capacity.
The proposed 1000 MW carbon-free energy is targeted to meet the existing and incremental power demand of JSP’s Angul facility.
Once completed, it will ensure the reduction of approximately 7 million tonnes of CO2 annually.
As part of the proposed transaction, Greenko Group shall offer energy storage capacity from its Off-Stream Closed Loop Pumped Storage Project (OCPSP) under development in Madhya Pradesh and Rajasthan.