India’s Tata Steel Limited will implement a waste heat recovery (WHR) project at its ferroalloy plant in the eastern state of Odisha, a company statement said on Tuesday, June 2.
It has signed a memorandum of understanding (MoU) with Comfit Enersav Private Limited, a leading provider of heat and energy recovery solutions, and Yantra Harvest limit, a prominent energy-saving solutions company, for implementation of the project, it said in the statement.
Under the MoU, Comfit Enersav and Yantra Harvest will jointly design and implement the WHR system at the facility which would enhance energy efficiency and promote sustainable industrial practices at the ferroalloy plant.
“With this process of heat integration, we are capturing the value which would be released to the atmosphere otherwise. This partnership marks a significant step forward in our journey towards sustainable operations with reduction in CO2, higher energy efficiency, and lower energy cost. We are confident that this collaboration will set new benchmarks in industrial energy conservation,” executive in-charge of the plant, Pankaj Satija, said in the statement.
The project will be implemented under the Energy Savings Companies (ESCO) model, following a Build, Own, Operate (BOO) framework. Under this model, the project cost will be recovered through the value of captured and utilized heat energy, ensuring a performance-based payout mechanism.