Jindal Stainless Limited (JSL) is taking a host of measures to reduce of its present and planned capacities, which includes setting up renewable energy capacities, Managing Director said.

During FY22, JSL reduced its by 3,100 metric tonnes and initiated a switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives such as solar and wind power, Jindal told PTI during an interaction.

“Continuing forward, we are taking proactive steps to decarbonise and reduce of our present and planned capacities. The move is aimed to support the government’s mission of carbon-neutrality,” he said.

In the renewable energy space, JSL is looking for partners to set up 300 MW solar and wind capacities in states like Odisha, Haryana and Rajasthan, Jindal said, adding that the talks with a few players are already underway. The investment will be through joint venture/ventures which will be formed post finalisation of the keen parties.

The company has also partnered with Hygenco India Private Limited to set up a green hydrogen plant. The unit plant will help the company to reduce its carbon emissions by nearly 2,700 MT per annum, the MD said.

“We are the first and only stainless steel company in India to install a green hydrogen plant,” he said.

Besides, his company has partnered with EY India to solidify ESG (Environmental, Social and Governance) goals.

As part of the partnership, JSL and EY will work seamlessly to carve out a strategic road map for achieving decarbonisation, evaluate continuous upgrades and adopt clean technologies strategy, improve ESG performance, embrace digitalisation of business processes, initiate GHG (greenhouse gases) accounting, etc.

Jindal Stainless has a stainless steel melting capacity of 1.9 million metric tonnes (MMT) at its Hisar and Jajpur manufacturing facilities. The company has planned a capacity expansion at its Jajpur facility by FY23 and take the total melting capacity to 2.9 MMT.

The energy generated from the solar, wind and hydrogen units will be used in various processes of stainless steel making the plants, he said.

“We firmly believe that efficient and immediate efforts towards sustainability, social upliftment, good governance, decarbonisation, waste management, and digital prowess are inevitable to build long-term value for all our stakeholders and achieve a circular economy,” Jindal added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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