IMFA and JSW Green Energy collaborate for a greener future

Bhubaneswar, Dec 18: Indian Metals & Ferro Alloys Ltd (IMFA), a leading fully integrated producer of ferro chrome in India, has announced a joint venture with JSW Green Energy to harness renewable energy for its smelting operations.

IMFA has signed a binding term sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd, committing to invest Rs 83.26 crores in a hybrid project that will feature a combination of 50 MW AC solar and 100 MW wind energy, resulting in a total contracted capacity of 70 MW. The company plans to establish a power purchase agreement (PPA) as a captive consumer, which will remain effective for 25 years.

Binoy Agarwalla, Vice President & Head of the Power Business Unit, stated, “As a pioneer in the ferro alloys industry with a focus on captive power, renewable energy plays a crucial role in reducing our carbon footprint. By integrating solar and wind power, we are taking proactive measures toward a sustainable future and aligning with global sustainability trends.” In line with rising demand, IMFA is also constructing a greenfield facility in Kalinganagar, Odisha, with an annual production capacity of 100,000 tonnes of ferro chrome.