India’s top ferro alloys producer IMFA partners with JSW Green Energy for renewable power

Bhubaneswar: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated ferrochrome producer, on Wednesday announced a joint venture with JSW Green Energy to source renewable energy for its smelting operations.

As part of the agreement, IMFA signed a binding term sheet with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd. The company will invest Rs 83.26 crore in a hybrid renewable energy project, comprising 50 MW AC solar and 100 MW wind capacity, with a total contracted capacity of 70 MW.

IMFA will enter into a 25-year power purchase agreement (PPA) as a captive consumer to secure sustainable energy for its operations.

Commenting on the initiative, Binoy Agarwalla, Vice President and Head of the Power Business Unit at IMFA, said:

“As a pioneer in the ferro alloys industry with backward integration into captive power, renewable energy is a critical aspect of our strategy to reduce our carbon footprint. Combining solar and wind power demonstrates our commitment to sustainability and aligns with global trends for a greener future.”

IMFA is also setting up a 100,000-tonne-per-annum greenfield facility at Kalinganagar, Odisha, to expand its ferrochrome production capacity in response to rising demand.