JSW Steel to green power from hydrogen plant

JSW Steel expects to use green power from the 3,800-tonne hydrogen plant being set up at its Vijayanagar plant and supply green steel at a premium in 18-24 months.

The company has signed a contract with the group company JSW Energy to source green hydrogen and green oxygen to produce green steel.

JSW Steel said the company will get close to 25 megawatts (MW) of round-the-clock renewable power and the demand for green steel is good both in the global and domestic market.

The company will get carbon credits based on the quantum of thermal power being replaced with green energy. Currently, carbon credits are being traded at about $100 each.

Setting up 1 GW (equal to 1,000 MW) power plants from renewable sources could cost anywhere between Rs4,500 crore and Rs6,500 crore depending on solar or wind. JSW Steel has domestic capacity of 27.7 mt and will reach 37 mt by FY25.

On JSW Steel’s interest in acquiring a 20 per cent stake in Teck Coal unit in Canada for close to $2 billion, Acharya said the company continues to explore various coking coal assets both in India and abroad to fulfil raw material security.

JSW Steel has been increasing steel production capacity and it is very important to achieve backward integration. The company is exploring the Canadian coal opportunity and will firm up a plan soon.

Tags: Green Power, Hydrogen Plant, JSW Energy, JSW Steel
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