IMFA Aligns with Sustainability: Solar and Wind Powers Odisha Operations

Odisha-based IMFA partners with JSW Green Energy to secure renewable energy for its operations. The collaboration involves a Rs 83.26 crore investment for a hybrid solar and wind project. A 25-year power purchase agreement further strengthens the company's commitment to sustainable practices and increased ferrochrome production.

Odisha-based Indian Metals & Ferro Alloys Ltd (IMFA) has formed a strategic joint venture with JSW Green Energy to implement renewable energy solutions in its smelting operations, as announced by the company on Wednesday.

The announcement detailed that IMFA has signed a binding term-sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd. The partnership involves a Rs 83.26 crore investment in a hybrid energy project, combining 50 megawatt AC solar and 100 megawatt wind power, resulting in a total contracted capacity of 70 megawatts.

This initiative includes a 25-year power purchase agreement, where IMFA will utilize the renewable capacity as a captive consumer. Vice-president Binoy Agarwalla emphasized the company's commitment to a sustainable future, while also planning a greenfield facility at Kalinganagar to boost ferrochrome production.

(With inputs from agencies.)