Indian Metals & Ferro Alloys Limited (IMFA) has signed an agreement with JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd. on December 17, 2024, to procure 70 MW of hybrid renewable power. This power will be supplied under a captive consumer structure, as outlined in the Electricity Act, 2003, and the Electricity Rules, 2005. The renewable power mix includes 50 MW AC of solar energy and 100 MW of wind energy.
The deal is valued at ₹83.26 crore, which will be paid in one or more installments. In exchange, IMFA will acquire a 26% equity stake in the project, which is slated for completion by June 2026.
JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd., incorporated on April 10, 2024, and June 21, 2024, respectively, have yet to complete a full financial year. These entities were established to undertake activities such as generating, supplying, transmitting, and distributing electricity using both conventional and renewable energy sources. Their operations are currently limited to India.
