Indian Metals & Ferro Alloys Ltd (IMFA), a prominent name in ferro chrome production, has entered into a significant joint venture with JSW Green Energy. This partnership marks a strategic move to integrate renewable energy into IMFA’s smelting operations, reducing its carbon footprint and aligning with global sustainability goals.
Under the agreement, IMFA has signed a binding term sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd. The company will invest ₹83.26 crores in a hybrid renewable energy project comprising 50 MW AC solar and 100 MW wind power. This initiative will provide a total contracted capacity of 70 MW. IMFA will act as a captive consumer under a 25-year power purchase agreement (PPA), leveraging renewable energy to power its operations efficiently.
Binoy Agarwalla, Vice President & Head of Power Business Unit at IMFA, emphasised the significance of this move, stating, “Renewable energy plays a critical role in reducing our carbon footprint. This solar and wind hybrid project reinforces our commitment to sustainability and aligns with global trends in green energy adoption.”
In addition to this joint venture, IMFA is gearing up to expand its ferro chrome production capabilities. The company is developing a greenfield facility with an annual production capacity of 100,000 tonnes in Kalinganagar, Odisha. This move aims to cater to the growing demand for ferro chrome, an essential component in stainless steel manufacturing.
The collaboration between IMFA and JSW Green Energy demonstrates a forward-looking approach to integrating renewable power into industrial processes. It sets a precedent for adopting sustainable practices in energy-intensive sectors, supporting India’s transition towards cleaner energy solutions.
