Jindal Steel partners with Hygenco India to set up green H2 plant
Giving momentum to the company's objective of investing in green stainless steel production, Jindal Stainless (Hisar) Ltd has announced that it has partnered with Hygenco India Private Limited to install a Green Hydrogen Plant. This Green Hydrogen Plant will enable the company to considerably reduce its CO2 emissions by nearly 2700 MT per annum.
With this development, the company is set to become the first stainless steel company in India to install a Green Hydrogen Plant. Lauding this effort, Managing Director, Jindal Stainless, Abhyuday Jindal, said, "This development cements our commitment to make prudent use of natural resources, reduce our carbon footprint, and build a sustainable society. As a first, the Green Hydrogen Plant will catalyze our transition from thermal to clean energy in the Indian manufacturing space. Going forward, we will continue our ESG efforts to achieve net zero emissions and power conservation."
This development is in line with the Company's aim to achieve excellence in its Environmental, Social, and Governance (ESG) Standards. The ESG standards will help Jindal Stainless ensure ethical and sustainable operations within the organization, undertake a holistic assessment of the company's performance, and identify potential risks.
The company has appointed a third party to develop a roadmap to accomplish its ESG and decarbonization goals. Jindal Stainless is continuously looking for new opportunities for setting up renewable energy power plants and reducing the carbon footprint in its manufacturing. During FY22, the Company reduced its CO2 emissions by 1800 metric tonnes.