The Naveen Jindal Group is strategizing a Rs 15,000-crore initiative to propel green energy endeavors

The Naveen Jindal Group is embarking on an ambitious investment endeavor totaling Rs 15,000 crore, with a strong focus on advancing renewable energy projects. This strategic move aims to fuel clean energy sources for the group's expanding steel production operations. With a goal of establishing four gigawatts (GW) of renewable energy capacity in-house within the coming years, the group is steadfast in its commitment to slashing carbon emissions and promoting eco-friendly steel manufacturing processes.

Operating under the umbrella of Jindal Renewable Power, the group is venturing into uncharted territories in solar and wind energy, with a particular emphasis on sites in Rajasthan and Karnataka. Adhering to stringent environmental, social, and governance (ESG) criteria, these initiatives are closely aligned with the group's sustainability objectives. The primary focus remains on bolstering production capabilities in both hot rolled and cold rolled steel, crucial components in sectors such as automotive and construction.

An illustrative example is the burgeoning highway construction endeavors across the nation, which necessitate substantial steel quantities for infrastructure elements like guardrails. Procurement of machinery for the proposed renewable energy projects is already in progress, with ongoing discussions with potential financiers.

Outlined in their recent investor presentation, Jindal Steel and Power reaffirm their dedication to steel and associated ventures, encompassing mines, ports, and power facilities. With a sharp focus on green technologies to mitigate carbon footprint, the group aims to ramp up steel production capacity to approximately 15 million tonnes annually by the fiscal year 2025-26.

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