ReNew Power Partners With Jindal Stainless for 300MW Hybrid Project

ReNew Power, the largest renewable energy provider in the nation, and Jindal Stainless recently entered into a deal to establish a utility-scale captive renewable energy project for the delivery of electricity to their factory in Jajpur, Odisha.

By combining solar and wind energy, the project will produce 700 million units annually. With a high capacity utilization factor, this cutting-edge wind-solar hybrid system is anticipated to provide much more energy per unit of the contractual capacity, the business said in a release.

With this, ReNew Power also introduces its Round the Clock (RTC) solution, which it invented for utilities earlier in the year, to the B2B market. the firm has identified the corporate PPA market as a huge growth area offering better margins than it’s utility scale forays until now.

To fulfill its Environmental, Social, and Governance (ESG) objectives and make the switch to sustainable manufacturing, Jindal Stainless is taking purposeful action. Project Samanvay was started by the corporation to evaluate its readiness in light of specific ESG indices and create a strategic plan for the future.

The business has also suggested that it forecast its greenhouse gas emissions and set emission reduction goals through the Science-Based Target Initiative (SBTi).

ReNew Power assists businesses in making the switch to clean energy to help them achieve their decarbonization objectives.

ReNew Power has announced plans to invest Rs 30,000 crore in the coming two years in solar and wind energy capacities. ReNew Power Chairman Sumant Sinha said that ReNew has 5,000 MW of projects which it is building presently as it has won auctions and has Power Purchase Agreements in place.

Additionally, JSL was seeking partners to build 300 MW solar and wind capacity in states like Odisha, Haryana and Rajasthan. According to Managing Director Abhyuday Jindal, Jindal Stainless Limited (JSL) was implementing several strategies to lower the carbon emissions generated by its current and future operations, including the installation of renewable energy facilities.