India: Key takeaways from Day 2 of CII Green Steel Summit 2024
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The second day of the CII Green Steel Summit, held on 25-26 July, 2024, focused on the applications of renewable energy in the steel industry and green manufacturing of steel products. BigMint presents the key highlights of the day:
Nishit Mehta from Serentica Renewables India Pvt Ltd highlighted the potential of renewable energy in India's steel sector. He discussed on industrial decarbonization through the provision of assured renewable energy (RE), with a mix of greenfield solar, wind, energy storage, and balancing solutions tailored for the commercial and industrial sectors.
Abhinanda Basu, Regional Head-East and North-East at Tata Power Renewables Energy Ltd, shared insights on achieving carbon neutrality in the steel and iron industry. She pointed out that power costs make up 20-40% of operational expenses and are rising, along with productivity losses due to high temperatures.
Tata Power Renewables offers onsite, direct and indirect power solutions aimed at ensuring a steady supply of green energy, compliance with environmental norms, and long-term support to achieve net-zero emissions.
Lokendra Singh, Co-founder & CEO of Oriano Solar, spoke about different business model options for solar energy. Oriano Solar has commissioned projects globally, including for clients like Arcelor Mittal First Solar (US), SolarPack (Spain) and the Hira Group, Aditya Birla, Hinduja (India). They provide energy through independent producers and also for captive consumption, with major projects in Kurnool and Chhattisgarh.
Sebastian Langendorf, Founder & CEO of Meranti Green Steel Pte. Ltd., Singapore, shared his insights on the topic "Modern and efficient upstream steel process with a certified green footprint". He highlighted the growing market size of India, with the steel industry projected to reach 227 mnt by 2030 driven by infrastructure demand. However, he said that India's steel decarbonization would take time as production via the BF/BOF route will dominate in the near term. As per Langendorf, by
- 2030-2050: Green hydrogen projects will be deployed on a large scale across India.
- 2050-2070: Large scale projects will come onstream across India and the cost of green hydrogen will fall due to increased competition in the market.
Ludvig Lindstrom, Senior Advisor, Swedish Energy Agency, discussed the long-standing partnership between India and Sweden in the energy sector. The agency has been active in India since 2009 and has collaborated on various projects.
Below areas were identified for possible co-operation under ITP Steel
- Experimental blast furnace, setup and operation
- Experimental H2-DRI shaft furnace, setup and operation
- Beneficiation and tailings setups
- CBAM: Understanding its impact and devising strategies
