Vedanta Aluminium is now the largest buyer of green energy in India

03 Aug 2021 CW Team

Aluminium manufacturing major, Vedanta Aluminium becomes the largest green power purchaser on the Green Term-Ahead Market (GTAM) platform at the Indian Energy Exchange (IEX) in the first quarter of the fiscal year 2021-22.

For its largest integrated aluminium production facility in Odisha, the company said it purchased 354 million units of renewable energy at IEX, primarily from GTAM, a company that assists buyers in obtaining green energy.

The acquisition of green power units by the company accounts for more than 35% of the green power traded on the IEX in Q1 FY22, according to the statement released by Vedanta.

Rahul Sharma, the chief executive officer of Vedanta Aluminium Business, claimed that their long-term plan focuses on migrating to a low carbon energy mix, with a gradual shift from fossil fuels to renewable energy, in order to manufacture green aluminium.

GTAM is a new model that has been created to allow renewable developers to sell their power on the open market without entering into long-term power purchase agreements(PPA) in accordance with Central Electricity Regulatory Commission(CERC) permission. This would encourage RE merchant capacity expansion and assist the country in meeting its RE capacity expansion goals.

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Also read: Vedanta to invest Rs 6,611 cr for Bharat Aluminium expansion

Also read: Vedanta to establish aluminium park in Odisha at Rs 10k cr

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