Indian Metals & Ferro Alloys (IMFA) has entered into a binding term sheet with JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd. to procure hybrid renewable power supply, marking a significant step towards strengthening its sustainability and energy efficiency goals.

Key Agreement Highlights:

  1. Hybrid Renewable Power:
    • Total contracted capacity: 70 MW
    • Solar Power: 50 MW (AC)
    • Wind Power: 100 MW
  2. Agreement Value:
    • ₹83.26 crore, to be executed in one or more tranches.
  3. Power Consumption Type:
    • The power will be utilized for captive consumption, ensuring cost-effective and uninterrupted clean energy supply for IMFA’s operations.
  4. IMFA’s Stake:
    • IMFA will hold 26% shareholding in the JSW Green Energy projects as part of the agreement.
  5. Completion Timeline:
    • The renewable power supply is expected to be operational by June 2026.
  6. Objective and Impact:
    • This collaboration aligns with IMFA’s strategy to transition towards clean energy sources, reducing its carbon footprint and ensuring compliance with sustainability initiatives.
    • It will help IMFA secure reliable, long-term renewable energy while managing power costs efficiently.

Brief on JSW Green Energy Entities:

  • JSW Green Energy One Ltd. (solar) and JSW Green Energy Seven Ltd. (wind) were incorporated in April 2024 and June 2024, respectively.
  • These entities aim to generate, supply, and distribute renewable energy across India, focusing on innovative and sustainable energy solutions.

This move comes at a time when industries are increasingly adopting hybrid renewable solutions to meet energy demands while complying with India’s renewable energy targets. IMFA’s strategic decision will further enhance its operational efficiency and energy cost optimization over the long term.

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