JSL Super Steel and Sunsure Energy sign 11 MWp PPA

In a landmark move towards sustainable industrial growth, Sunsure Energy, a leading independent power producer, today signed a 11 MWp long-term Power Purchase Agreement (PPA) with JSL Super Steel, a Ghaziabad-based subsidiary of Jindal Stainless Limited, India's largest stainless steel manufacturer. As per the agreement, this facility will source 11 MWp of solar power from Sunsure's 49 MWp Solar Project in Augasi, Uttar Pradesh, displacing nearly 40% of its conventional energy consumption with clean power. This project will be a part of the Uttar Pradesh State Power Banking Policy, aligning with the state's vision for energy security and efficient power management.

Sunsure Energy's partnership with JSL Super Steel will further strengthen its mission of advancing India's commercial and industrial renewable energy adoption. The partnership will enable JSL Super Steel to receive 16.5 million units (MUs) of clean energy annually, helping the company offset 12 million kilograms of carbon emissions per year - equivalent to planting over 5.45 Lacs trees. This move aligns with India's growing push for green steel production, an industry-wide transformation that aims to curb emissions in one of the most energy-intensive sectors.

Commenting on this development, Wholetime Director and Chief Operating Officer, Jindal Stainless, Mr Jagmohan Sood said, "JSL Super Steel is delighted to partner with Sunsure Energy as another step in Jindal Stainless' efforts to green our operations and achieve our Net Zero targets. This partnership is also a part of Jindal Stainless' short-term goal of reducing 50% carbon emissions by 2035. By integrating renewable energy into our production processes, we are not only reducing our carbon footprint but also setting new benchmarks for the metal industry in India. As leaders in the stainless steel industry, we deem it our responsibility to usher in cleaner routes of production such as introduction of green hydrogen, use of biofuels, increasing renewable energy share from the grid, etc. at every step of the value chain."

Shashank Sharma, Founder, Chairman and CEO, Sunsure Energy while speaking at the signing ceremony, said, "As industries align with India's ambitious renewable energy targets, collaborations like this set a powerful precedent for responsible growth. Through this agreement, Jindal Stainless is leading the way for the metal industry in Uttar Pradesh by sourcing power from renewable sources-demonstrating that clean energy is not just an option, but the future of industrial progress. Jindal Stainless has a strong reputation for pioneering sustainability initiatives, and we are proud to welcome them into our growing family of esteemed customers."

Jindal Stainless remains focused on a greener, sustainable future, fueled by environmental responsibility. The company has reduced more than 3.1 lakh tonnes of CO2 in the last three fiscal years and aims to achieve Net Zero by 2050. Jindal Stainless is also the first company in India to have launched a Green Hydrogen Plant for its stainless steel production. Moreover, the company is investing INR 700 crore in various decarbonisation projects over the next five years.

Sunsure Energy currently provides renewable energy solutions to 70+ Indian industrial companies across over 16 states, including multinationals like Sandoz, KSB Pumps, Emcure, Olon API, Lupin and more. The company has a 160 MW operational capacity in Uttar Pradesh and its customers in the state include some of the largest businesses across diverse sectors like Dabur, Inox Air Products, Kajaria, APL Apollo, Merino Industries, Orient Bell, amongst others.

Shares of Jindal Stainless Limited was last trading in BSE at Rs. 512.30 as compared to the previous close of Rs. 523.35. The total number of shares traded during the day was 67890 in over 2790 trades.

The stock hit an intraday high of Rs. 523.45 and intraday low of 504.50. The net turnover during the day was Rs. 34626777.00.

Source : Equity Bulls

Keywords

JindalStainless INE220G01021 JSLSuperSteel PPA SunsureEnergy 11MWp