The Government of India company National Aluminium Company Limited (NALCO) has made it clear that it is not now involved in any discussions or activities pertaining to the establishment of a 200–300 MW green power capacity supported by battery storage for low-carbon aluminium production.
Following media reports indicating that the company was investigating large-scale renewable energy capacity with storage solutions, the clarification was sent to stock exchanges. NALCO declared in a written report to the BSE and NSE that, as of right now, no such discussions or decisions had occurred.
To achieve its current and future renewable energy commitments, the company has acknowledged that it is currently hiring a consultant to assist with its renewable energy (RE) transition. This is in line with long-term sustainability objectives and NALCO’s larger energy transition agenda.
In response to market activity, NALCO stated that it is not aware of any confidential information that could account for the recent fluctuations in the price of its stock. The business stated that NALCO’s share movement is in line with sectoral performance and that non-ferrous metal stocks have generally been seeing an upward trend in recent trading sessions.
The business went on to say that neither its operations nor its financial situation are significantly impacted by the supposed news. Additionally, it affirmed that there are currently no pending legal or regulatory actions related to the issue.
While it frequently shares its long-term vision on green energy and net-zero goals during media interactions, NALCO reaffirmed its commitment to strict compliance with SEBI (LODR) Regulations, 2015. However, no official announcement or press release has been issued regarding the specific project mentioned in the media report.
