Jindal Steel and Power Ltd on Monday, September 16, said it has signed a Memorandum of Understanding (MOU) with Jindal Renewable Power Private Ltd (JRPL) to initiate India’s largest investment in green hydrogen by a domestic steelmaker.
Under the agreement, JSPL plans to integrate green hydrogen into its direct reduced iron (DRI) units at its Angul facility in Odisha, making it the largest green hydrogen project in the Indian steel industry.
This collaboration aims to revolutionise steel production in the country by significantly reducing carbon emissions through green hydrogen and renewable energy, Jindal Steel and Power said in a regulatory filing.
As part of the deal, JRPL will spearhead the development of green hydrogen production with a capacity of up to 4,500 tonne annually, set to begin by December 2025. In addition, the project will generate 36,000 tonne oxygen annually, which will be supplied to the Angul steelworks.
JRPL will also supply approximately 3GW of renewable energy to JSPL’s operations. This will reduce the company’s reliance on coal-fired energy by 50% over the next two to three years.
"This MOU marks a pivotal moment in our journey towards decarbonization using green hydrogen and green energy. By integrating these technologies into our production processes, we are not only reducing our carbon footprint but also setting a new benchmark for the Indian steel industry," Sanjay Singh, director of strategy and corporate affairs at JSPL, said.
The partnership between JSPL and JRPL represents a significant leap in India’s efforts to embrace green energy in heavy industries like steelmaking, the company said, adding that with plans to lock in offtake for the next 25 years, the companies are focused on environmental sustainability and long-term business viability.
Shares of Jindal Steel and Power Ltd were trading 0.22% higher at ₹1,033.90 on the BSE around 9.27 AM.
