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Business Economy

India’s aluminium industry will need $29 billion capex to go net-zero: Report

New Delhi, April 30 (UNI) The Indian aluminium industry would require an additional capital expenditure (capex) of nearly Rs 2.2 lakh crore ($29 billion) to achieve net zero carbon emissions, said a report released by Council on Energy, Environment and Water (CEEW) on Tuesday.
The report said that renewable energy (RE) power sources could abate 49% of the total emissions from the aluminium industry.
The CEEW report noted that a complete transition to RE is currently not feasible as it is intermittent in nature, and a backup will always be necessary in case of grid failure.
The report stated that net-zero aluminium could be 61% more expensive.
"And decarbonising this industry would also lead to a yearly increase of Rs 26,049 crore ($3.5 billion) in additional operating expenditure (opex)," the CEEW study said.
Aluminium, a widely utilised metal and one of India's fastest-growing in terms of production, is predominantly used by the power sector.
"Aluminium and fertiliser are key industries for India’s economic growth, and significant government support will be necessary to build the necessary infrastructure, such as power grid and pipelines, to decarbonise them and meet India’s climate goals,” said Hemant Mallya, Fellow, CEEW.
As per CEEW, India is the second-largest fertiliser producer in the world accounting for 20% of global production. However, it is a significant source of greenhouse gas emissions due to energy-intensive production processes and extensive fossil fuel use, particularly natural gas.
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