MUMBAI:
FICCI, jointly with Hero Futures Energies yesterday organized an interactive session on ‘Renewable Energy Adoption in Indian Mining and Metals Sector’ to showcase renewable energy solutions and technologies for Indian mining and metals industry and supporting their transition towards decarbonization and net-zero journey.
Pankaj Satija, Co-Chair, FICCI Mining Committee and Managing Director, Tata Steel Mining Ltd said, “With the series of initiatives taken by the government, the Renewable Energy (RE) capacity in India stands at 179GW as of July 2023.” He further highlighted that the mining & metals industry along with
the RE developers are working in a collaborative manner towards the net-zero targets of the industry. He said that innovative sourcing and financing models for RE would support the journey of the metals industry towards decarbonization.
Presenting the Renewable Energy Solutions for Indian Mining & Metals Industries R Sundar, Business Head – India C&I, Hero Future Energies highlighted on six energy megatrends which includes SDG & net- zero, RTC, green molecules, cross border trade, protectionism and energy efficiency. He added that the renewable energy solutions are now transiting towards firm renewables (with elements like round the clock energy supply, energy storage etc) and green molecules (comprising of green hydrogen, user- producer partnerships etc). Mr Sundar highlighted that the pricing of RE solutions for the industries like mining & metals is expected to further reduce and mature as we see enhanced demand and collaborations.
Animesh Sharma, Head of Business Development – India C&I, Hero Future Energies highlighted on the huge potential for RE in the western region with special focus on Maharashtra as it has abundant wind resources, sunshine, robust grid mechanism and conducive policy frameworks. He further
mentioned on the encouraging policies of Maharashtra State in terms of ED waiver for 10 years, stamp duty waiver on land for RE projects, single window clearance etc.
Representing the Steel Industry, Jatin Parekh, Managing Director, Fortran Steel said that while the decarbonization targets by 2030 may look huge but the industry is taking several initiatives to achieve them. He mentioned that green hydrogen and solar have moved from buzzwords to become the steel
industry future, while the industry is also setting up its RE capacity by collaborating with the RE developers for captive consumption. He mentioned that with increased adoption of RE, the industry is not only reducing its emissions but is also revolutionizing the production processes.
For the Mining & Cement Industry, K N Rao, Corporate Head – EHS, AFR, Energy Sustainability, MyHome Industries highlighted that cement is a unique industry as its carbon intensity is largely derived from its raw materials. He mentioned that around 10 per cent of the India’s GHG emissions are from the
cement industry and with the increased usage of cement for planned infrastructure development, these emissions could become huge, thus the renewable solutions will play a critical role for the cement industry moving forward. Mr Rao stated that with forecasted cement production of 1400 mt pa by 2050, the year by which the industry looks to become net-zero, there would be a demand for around 50GW of green power from the industry. He suggested that accordingly the policy framework and the approach should be strategized both by the RE industry as well as the cement producers to meet the forecasted
demand for renewable solutions in the industry.
Rahul Prithiani, Senior Director & Global Head, CRISIL made the sectoral presentation and Prof. Viswanathan N Nurni, Professor and Head, Department of Metallurgical Engineering & Materials Science, Indian Institute of Technology, Bombay highlighted on the R&D aspects of the transitional
journey of the Indian mining & metals towards net zero. The interactive session highlighted that the role of renewable energy in mining & metals sector is multifaceted and can have significant impacts on the industry’s vision for sustainability and environmental goals. As the sector consume a significant amount of electricity produced in the country, it can play an essential part in enabling the structural shift to clean power in India. The discussions
acknowledged that many corporates and industries in India have committed to adopt green energy and are looking for solutions best suited to their operations.
