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Vedanta Aluminium Largest Green Power Purchaser At Iex In Q1

Vedanta Aluminium's purchase of green power units is more than 35 per cent of the green power traded on IEX in Q1 FY'22

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Vedanta on Monday said its aluminium vertical has become the country's largest green power purchaser at the Indian Energy Exchange Ltd (IEX) platform in the first quarter of the ongoing fiscal.

For its largest integrated aluminium production facility at Jharsuguda in Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX, the company said in a statement.

IEX is the country's power trading platform .

GTAM, introduced last year by IEX, supports buyers in procuring green energy in the most competitive and flexible manner.

The purchase of green power from the exchange has enabled organisations like Vedanta and the industry at large to achieve their carbon-mitigation targets while producing 'green' value-added products.

Vedanta Aluminium's purchase of green power units is more than 35 per cent of the green power traded on IEX in Q1 FY'22, it added.

'Our sustainability imperatives are designed to fulfil our climate impact reduction targets, which are in complete alignment with the goals of Paris Agreement and Nationally Determined Contributions (NDC) submitted by the Government of India.

'To that end, our efforts have been towards adopting global best-practises in energy management and deploying advanced technologies to reduce our carbon footprint,' said Rahul Sharma, CEO - Vedanta Aluminium Business.

The company's long-term strategy focuses on migrating to low carbon energy mix, with gradual shift from fossil fuels to renewable energy, to produce green aluminium, he added. 

(PTI)