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Indian private-sector producer Tata Steel has given a letter of award for the set-up of 966MW of round-the-clock hybrid renewable power to Tata Power, in an effort to lower its carbon emissions.
It will be one of the biggest round-the-clock power projects, with hybrid renewable capacities of 379MW of solar and 587MW of wind power, under the group captive segment in the country, and will save about 2.39mn t/yr of CO2 emissions for Tata Steel, according to Tata Power.
Tata Steel will invest and hold 26pc equity in the project, which will be commissioned by 1 June 2025 according to the arrangement. "This partnership enables us to take one of the steps towards achieving our target of net zero by 2045," Tata Steel chief executive and managing director TV Narendran said. The firm did not specify which scopes of emissions the target covers.
Tata Steel trial injected hydrogen at its 550m³ blast furnace in Jamshedpur in April, but has said that large-scale use of hydrogen for steelmaking is still a few years down the line especially because of higher costs in May.
Steelmaker ArcelorMittal Nippon Steel India partnered with renewable energy developer Greenko in March 2022 to build a 975MW solar and wind power plant to reduce emissions from its operations.
JSW Steel also partnered with German technology company SMS Group to reduce carbon emissions and produce green steel in September 2022.
Indian steelmakers have been working to reduce their carbon emissions in line with the country's target to achieve net-zero emissions by 2070, while the European Commission's Carbon Border Adjustment Mechanism, which is expected to negatively affect Indian steel exports from 2026, has also exacerbated the need to reduce emissions in steel production. argusmedia
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