JSW Group's Ambitious Plans for Renewable Energy and Green Steel Production
Key Ideas
- JSW Group, led by Chairman Sajjan Jindal, anticipates significant growth in renewables, intending to increase investments in both renewables and thermal power in the coming years.
- The company aims to reach 20 GW of power generation capacity and 40 GWh / 5 GW of energy storage by 2030, with a focus on solar and wind projects in regions like Rajasthan, Gujarat, and Maharashtra.
- JSW Energy is exploring the green hydrogen space, setting up a 25 MW plant as a pilot project, aiming to produce cost-effective hydrogen below $2 per kg for future aggressive investments.
- The company is also venturing into green steel production, with plans to set up a 10-million-tonne steel plant that aims to significantly reduce CO2 emissions through the use of hydrogen injection in the steelmaking process.
JSW Group's Chairman and Managing Director, Sajjan Jindal, is optimistic about the growth of renewables in India and foresees increased capital investment in the sector. The company, JSW Energy, has set ambitious targets to expand its power generation capacity and energy storage capabilities by 2030. With a current generation capacity of 18.2 GW, including operations across wind, thermal, and hydro power, JSW Energy is focusing on scaling up its renewable energy projects, particularly in solar and wind, in states like Rajasthan, Gujarat, and Maharashtra.
Moreover, JSW Energy is venturing into the green hydrogen space by setting up a 25 MW pilot plant to explore the feasibility of producing cost-effective hydrogen. The company aims to commission its green hydrogen project by March 2025, with plans to supply green hydrogen to JSW Steel for green steel production. JSW Energy has signed agreements with JSW Steel to supply significant amounts of green hydrogen and green oxygen by 2030.
In addition to green hydrogen, JSW Group is also planning to establish a 10-million-tonne green steel plant as a subsidiary. The green steel plant aims to significantly reduce CO2 emissions compared to conventional steel plants by utilizing hydrogen injection in the steelmaking process. While the cost of hydrogen injection may pose a challenge in terms of expenses, JSW Group is committed to reducing emissions and producing green steel for international markets.
Topics
India
Investing
Green Hydrogen
Renewable Energy
Investment
Energy Storage
Thermal Power
Green Steel
JSW Group
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