A significant producer of aluminum in India and a Vedanta affiliate, BALCO (Bharat Aluminium Company), has partnered with SRIP to procure 105MW of hybrid renewable energy for its aluminum facilities in Chhattisgarh, India.
BALCO will employ hybrid renewable energy from wind and solar sources to serve its Korba-based smelter instead of the current non-renewable power sources as part of its commitment to sustainable development and minimizing carbon impact.
The company’s dependency on fossil fuels will decrease due to this action, which will lessen greenhouse gas emissions and provide a reliable and consistent energy supply. The hybrid renewable energy project, developed to satisfy BALCO’s unique needs for a dependable and uninterrupted power supply, will be the responsibility of SRIPL for its development, construction, and management.
The collaboration between BALCO and SRIPL is a significant step forward for India’s renewable energy development and supports the country’s goal of 450 GW of renewable energy by 2030. BALCO will own 26% of the equity in the SPV, and the project will be built on a Build Own Operate (BOO) and Captive model. The PPA will last 25 years from the project’s date of Commissioning forward.