APRIL 20249DOMESTIC FINISHED STEEL CONSUMPTION RISES 13 PERCENT TO 136 MT IN FY24APPLE & CLEANMAX PARTNER TO PROPEL RENEWABLE ENERGY EXPANSION IN INDIADomestic completed steel utilization has enlisted a development of 13 percent to 136 million tons during 2023-24, upheld by expanded need from automotive and infrastructure areas, SteelMint India added.As per the research firm, the nation utilized 120 million tons (MT) of completed steel in the preceding 2022-23 monetary year."Demand from the automotive industry improved in FY24, along with focus increasing towards the EVs. Infrastructure and construction sectors also showed resilience with investments, mostly supported by gov-ernment-funded development projects," SteelMint said.The nation's crude steel production increased 12.6 percent to 143 MT, more than 127 MT in the past fis-cal year. This advancement is important as, under the National Steel Policy, the public authority is planning to expand India's yearly steel manufacturing ability to 300 MT and per capita steel utilization to 160 kg by 2030.The utilization of completed steel rose 6 percent to 33 MT in the January-March time of FY24 from 31 MT in the year-prior period, according to the SteelMint data. The manufacturing of crude steel was 37 MT during the quarter, 12.1 percent over 33 MT in the year-prior quarter. The homegrown Steel Market size is valued at 135.81 Million tons in 2024 and is anticipated to reach 209.93 Million tons by 2029, with a compound annual growth rate of 9.18 percent (2024-2029). CleanMax, a solar energy company, has reported a milestone partnership with Apple to upgrade re-newable energy power projects across India, denot-ing a huge move in the country's green energy landscape.On account of this partnership, the firm has effectively introduced 14.4 MW of rooftop solar installations across six modern areas in India, anticipated to moderate around 207,000 tons of CO2 outflows all through their functional life. The endeavor upholds critical renewable energy fund-ing and empowers enterprises to change towards sustain-able power sources and streamline their energy costs. This drive is set to speed up the improvement of renewable en-ergy projects in the nation, featuring a vital advancement in cultivating natural manageability."To address its growing corporate operations in India, Apple has embarked on a joint venture with leading re-newable developer CleanMax to invest in a portfolio of six rooftop solar projects with a total size of 14.4 megawatts. The added capacity provides a local solution to power Ap-ple's offices, its two retail stores in the country, and oth-er operations in India. Apple first achieved 100 percent renewable energy for its global corporate operations in 2018," stated a post on the Apple newsroom.Apple also shared its commitment to its 2030 climate goal. "Clean energy and water are foundational to healthy communities and essential building blocks for a respon-sible business," said Lisa Jackson, Apple's Vice President of Environment, Policy, and Social Initiatives. "We're rac-ing toward our ambitious Apple 2030 climate goal while taking on the long-term work to transform electrical grids and restore watersheds to build a cleaner future for all."TOPSTORIES
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