Greenko agrees RTC power supply to aluminium producer Hindalco

Indian metals company Hindalco Industries Ltd (BOM:500440), part of the Aditya Birla Group, has entered into a 25-year commercial arrangement with Greenko Energies Pvt Ltd for 100 MW of round-the-clock (RTC) carbon-free power supply.

The aluminium and copper major said in a statement today that in order for Greenko to deliver the service, it will deploy between 375 MW and 400 MW of solar and wind capacity to form a captive generation facility. Moreover, Greenko will provide appropriate storage capacity from its pump-storage hydropower plant in Pinnapuram, Andhra Pradesh.

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The new capacity will supply electricity to Hindalco’s Aditya Aluminium smelter in Odisha.

Going forward, the two parties will discuss a new agreement for up to 350 MW of round-the-clock carbon-free power.

Hindalco said that the current arrangement will cut carbon emissions by 680,000 tonnes per year. The aluminium producer aims to become net carbon-neutral by 2050.