IMFA Invests Rs 83.26 Crores In JSW Energy Hybrid Project

The Odisha-based Indian Metals & Ferro Alloys (IMFA), has entered into a joint venture with JSW Green Energy. Under the collaboration, the ferrochrome integrated producer would source renewable energy for its smelting operations. 

IMFA signed a binding term sheet with JSW Green Energy One and JSW Green Energy Seven and will invest Rs 83.26 crores in a hybrid renewable power project that combines 50 MW AC solar and 100 MW wind. The company will subsequently sign a power purchase agreement (PPA) as a captive consumer which will be valid for 25 years. IMFA is putting up a 100,000 tonnes per annum greenfield facility at Kalinganagar, Odisha to augment its ferrochrome production in line with increasing demand. The company would start production from June 2026. 

Metals and mining remain one of the most difficult to abate sectors when it comes to use of fossil fuels, and India based firms have started making real progress in using more renewable energy in their operations. A key requirement for these firms of round the clock, dependable energy has become more viable with use of hybrid projects using solar and wind, besides batteries of course where prices have come down to a level where they can match or even go down below grid supplies.  That has made the C&I opportunity bigger than ever for Indian developers, most of whom are adding a strong C&I portfolio to their traditional utility scale assets.

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