Indian Metals & Ferro Alloys (IMFA), a leading ferro chrome producer, has entered into a strategic joint venture with JSW Green Energy to source renewable energy for its operations. IMFA has signed a binding term sheet with JSW Green Energy One and JSW Green Energy Seven, securing a 70 MW contracted capacity through a hybrid project that combines 50 MW AC solar and 100 MW wind power. The total investment for the project is Rs 83.26 crores, and a 25-year power purchase agreement (PPA) will follow, with IMFA acting as a captive consumer.
Binoy Agarwalla, VP & Head of the Power Business Unit at IMFA, emphasized the importance of renewable energy in reducing their carbon footprint. He stated, “Renewable energy is a key aspect of reducing our carbon footprint. By combining solar and wind power, we are taking a proactive step towards a green future and aligning with the global trend of sustainability.” This initiative aligns with IMFA’s broader commitment to sustainable growth, as the company is also working on a 100,000 tonnes per annum greenfield facility at Kalinganagar, Odisha, to expand its ferro chrome production. The move underscores IMFA’s dedication to both meeting rising demand and embracing sustainable practices through renewable energy sources.
