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Coal Crunch Hastens Indian Metal Makers’ Switch to Green Energy

Renewable energy developer Greenko is in talks with several metal producers for round-the-clock power supply as sky-high coal prices send the industry toward alternative sources

Workers load coal into a sack in Mumbai, India.

Workers load coal into a sack in Mumbai, India.

Photographer: Dhiraj Singh/Bloomberg

India’s metal producers are speeding up their transition to renewable power after a coal crisis led to a supply crunch and sky-high prices of the fossil fuel, according to Greenko Energy Holdings.

GIC Pte.-backed Greenko, one of India’s largest renewable energy companies, signed an agreement earlier this month with Hindalco Industries Ltd. to provide carbon-free electricity to the aluminum producer’s Odisha smelter for 25 years, following a similar deal with ArcelorMittal Nippon Steel India Ltd