 "JSW Group")
Odisha-based Indian Metals & Ferro Alloys Ltd (IMFA), a ferrochrome producer, entered into a joint venture with JSW Green Energy to source renewable energy for its smelting operations, officials said on Wednesday.
In a statement, the company said IMFA signed a binding term-sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd, and will invest Rs 83.26 crore in a hybrid project that combines 50 megawatt (MW) AC solar and 100 MW of wind for a total contracted capacity of 70 MW.
The company will subsequently sign a power purchase agreement (PPA) as a captive consumer, which will be valid for 25 years, it added.
IMFA vice-president Binoy Agarwalla said, "By combining solar and wind power, we are taking a proactive step towards a green future and aligning with the global trend of sustainability." The company also mentioned that it is setting up a 1 lakh tonne per annum greenfield facility at Kalinganagar, Odisha, to augment its ferrochrome production in line with increasing demand.
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