India’s First Green Steel

India-based Kalyani Group has launched India’s first “green” steel brand called Kalyani Ferresta.

What is green steel?

When steel is manufactured without using fossil fuels, it is known as green steel. It is manufactured using low-carbon energy sources like hydrogen, electricity, or coal gasification instead of the traditional carbon-intensive manufacturing route. Sweden was the first country to manufacture green steel. It was developed by HYBRIT Technology.

What is Kalyani Ferresta?

• Kalyani Ferresta brand steel is the first-of-its-kind steel manufactured by a Pune-based steel company Kalyani Group.
• It is manufactured using renewable energy resources to bring zero carbon footprint in the environment.
• The Ferresta-branded steel has up to 70 percent scrap that is melted over an electric arc, which is powered by renewable energy sources.
• Through the new method, the company was able to eliminate 76,484 total carbon dioxide (tCO2) emissions, minimize water consumption by 10 percent, and was able to recycle 99.4 percent of its waste.

Why is domestic production of green steel in India significant?

The increased production of green steel will help transform the steel sector’s current identity as a “hard-to-abate” carbon-emitting sector to a “reduced carbon emitting-green steel-producing industry”.

The steel industry contributes to 7 percent of the carbon emissions globally and the Indian steel industry accounts for 12 percent of these emissions. The production of green steel minimizes the usage of the popular coking coal, a major contributor of GHG emissions.

What is the current market trend for green steel?

While the Indian market currently does not have major demand, Europe is currently becoming an attractive market for the export of green steel. Industries like oil and gas, power and energy, and other engineering industries like aerospace are currently showing a keen interest in green steel adoption. The wind energy sector and electric vehicle industry are among the early adopters of this steel. The Indian government is currently looking to boost domestic demand for green steel by making it mandatory for manufacturers to use a certain percentage of green hydrogen.

Month: Current Affairs - December, 2022

Category: Environment Current Affairs • India Nation & States Current Affairs