Indian Metals & Ferro Alloys (IMFA), a ferroalloy producer, has entered into a joint venture with JSW Green Energy to source 70 MW of renewable energy for its smelting operations. IMFA has signed a binding term sheet with JSW Green Energy One and JSW Green Energy Seven, committing Rs 832.6 million to a wind-solar hybrid project comprising 50 MW solar and 100 MW wind capacity.
The company will also finalise a power purchase agreement as a captive consumer, which will remain valid for 25 years. Additionally, IMFA has implemented various measures to reduce carbon emissions and increase reliance on green energy sources.
In December 2024, JSW Energy’s special purpose vehicle (SPV), JSW Green Energy Eight recently signed a power purchase agreement to supply power to Indus Towers in a captive arrangement, with Indus Towers proposing an investment of approximately Rs 380.3 million to acquire 26 per cent equity shares in the SPV.
