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Tag: MTPA

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CMD, IREDA Shares Insights at World Future Energy Summit 2024

Apr 20, 2024 by Sujata 0 Comments #CMD, #IREDA, #MTPA, #Shri Pradip Kumar Das, #World Future Energy

Mumbai, 20th April 2024 Indian Renewable Energy Development Agency Ltd. (IREDA) has inaugurated an office in GIFT City, Gandhinagar, specializing in the provision of Foreign Currency- denominated debt options which will significantly reduce the financing costs associated with Green Hydrogen and Renewable Energy Manufacturing projects, facilitating natural hedging, and thereby accelerating the country’s journey towards a greener future. The strategic initiative was highlighted by Shri Pradip Kumar Das, Chairman & Managing Director of IREDA during a panel discussion on “Future Growth Opportunities for Long Duration Energy Storage” at the World Future Energy Summit 2024 in Abu Dhabi today.

Team IREDA_exhibition pavilion

 In his address, Shri Das emphasized the critical role that energy storage will play in achieving the National Green Hydrogen Mission’s ambitious target of over 5 million metric tons per annum (MTPA) Hydrogen production by 2030. He highlighted several key priorities for advancing storage technologies.

 Shri Das stressed the need to enhance research and development efforts to improve the cost-effectiveness and performance of energy storage solutions. Implementing policies that strengthen the supply chain network is essential for the successful deployment of energy storage technologies. Providing competitive and tailored financial solutions will encourage investment in energy storage projects.

 India has taken proactive steps in this direction, including the formulation of a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower.

The Central Electricity Authority of India projects a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs. 3.5 lakh crore. IREDA has consistently been at the forefront of renewable energy financing through the provision of innovative products for emerging technologies at competitive rates and is fully prepared to support the deployment of energy storage technologies in India.

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Vedanta Aluminium Expands Alumina Refining Capacity To 3.5 million tonnes per annum (MTPA)

Apr 6, 2024 by Gayathri Pariti 0 Comments #green, #John Slaven, #MTPA, #Vedanta Aluminium

Vedanta Aluminium, India’s largest producer of aluminium, today announced a major milestone in its ongoing expansion efforts to be amongst the top 3 global players with 3 million tonnes per annum (MTPA) of aluminium production capacity. In a significant step towards achieving 100% vertical integration, the company today announced the successful commissioning of the new 1.5 MTPA expansion at its world-class alumina refinery in Lanjigarh, Odisha. With this, the alumina refinery’s production capacity has now increased to 3.5 MTPA from the existing 2 MTPA. This additional 1.5 MTPA capacity is a part of the company’s ongoing expansion to take the overall nameplate capacity at the Lanjigarh refinery from the current 2 MTPA to 5 MTPA, to support its increasing aluminium production.

Vedanta’s Alumina Refinery at Lanjigarh, Odisha

 Vedanta Aluminium offers one of the largest ranges of high-quality aluminium products in the world, including India’s first low-carbon ‘green’ aluminium range, branded Restora. These products find critical applications in sectors such as automotive, aerospace, defence, infrastructure, power projects, electricals, and packaging, amongst others. The company is also one of the largest producers of premier smelter grade alumina (SGA) in India, a key raw material for the company’s aluminium plants in Jharsuguda (Odisha) and BALCO (Chhattisgarh).

 John Slaven, CEO, Vedanta Aluminium, said “We are delighted to commission the expanded capacity which strengthens our raw material security and reduces costs for our Jharsuguda and BALCO aluminium smelters. It is a significant step towards 100% vertical integration and strongly positions us for sustainable growth within the global aluminium market.”

 Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in key industries. Vedanta Aluminium ranks 1 st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.