Vedanta Aluminium Business, producer of aluminium and value-added products, became India’s largest green power purchaser on the Green Market at the Indian Energy Exchange Limited (IEX) platform in Q1 FY 21-22.
For its largest integrated aluminium production facility at Jharsuguda, in Odisha, Vedanta procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX, the company said in a press release.
IEX is a premiere energy marketplace and is the largest power exchange in the country. GTAM, introduced last year by IEX, supports buyers in procuring green energy in the most competitive and flexible manner.
The purchase of green power from the exchange has enabled organisations like Vedanta and the industry at large to achieve their carbon-mitigation targets while producing ‘green’ value-added products. Vedanta Aluminium’s purchase of green power units is more than 35 percent of the green power traded on IEX in Q1 FY22, it claims.
Rahul Sharma, CEO – Vedanta Aluminium Business said, “Our long-term strategy focuses on migrating to low carbon energy mix, with gradual shift from fossil fuels to renewable energy, to produce green aluminium.”
Rohit Bajaj, Senior Vice President & Head-Business Development, IEX, said, “The Green Term-Ahead Market offers the market participants an opportunity to trade in delivery-based solar and non-solar renewable energy at the most competitive prices in a flexible manner. The market segment has been operational for over a year now and has received splendid response from industries, especially the energy intensive ones as well as the distribution utilities.
