India's captive industrial power consumption, currently around 90 gigawatts from fossil fuels, has significant potential for renewable energy replacement, said Dhanpal Jhaveri, chief executive at Eversource, a green energy investment platform. Eversource, a partnership between Everstone and Lightsource BP, sees global climate policies like the EU's carbon footprint taxes driving this shift. Industrial giants like ArcelorMittal, JSPL, JSW, and Vedanta are investing in renewable energy for captive use to align with global climate goals.
