Vedanta Aluminium announces long-term sourcing of 380 MW renewable power

Vedanta Aluminium has announced long-term sourcing of 380 MW of renewable energy (RE) for its aluminium smelters.

180 MW of this RE will be for the aluminium smelter at Jharsuguda, Odisha, and 200 MW for the Bharat Aluminium Company Limited (BALCO) at Korba, Chhattisgarh. This will be carried out through a power delivery agreement (PDA) between Vedanta Limited and special purpose vehicles – affiliates of Sterlite Power Technologies Private Limited (SPTPL), a company engaged in the business of supplying renewable power (hybrid) with solar, wind and storage solutions. Once online, this project has the potential to reduce Vedanta Aluminium’s greenhouse gas emissions by approximately 1,500,000 tonnes of CO2 equivalent annually.The term of the power delivery agreement is 25 years from the date of commissioning of the project. Built in a captive model, this will also aid in cost-effective sourcing of RE and insulate the company from volatility in the commodities market.