GV Sanjay Reddy on the Pivotal Role of Green Steel in Shaping Renewable Energy
Steel will be a key resource for building our future infrastructure. However, producing steel is still a highly energy-intensive process, with most of the energy coming from fossil fuels. While some shifts have been made from coal to coking coal, steel manufacturing still contributes around 7-9% of all global emissions from fossil fuels, with coal-burning being the primary source of these emissions.
Gunapati Sanjay Reddy envisions a future where renewable energy becomes the dominant power source. He shares insights on how we can accelerate the shift toward green steel, reducing coal use in the process.
According to the International Energy Agency, renewable energy capacity is expected to grow by 50% between 2019 and 2024—an increase of 1,200 GW, which is about the same as the current total power capacity of the United States. Solar energy is predicted to account for 60% of this growth, while onshore wind will make up about 25%. Steel will play a major role in supporting both solar and wind energy. For every new megawatt (MW) of solar power, around 35 to 45 tonnes of steel are required, while wind power needs even more—120 to 180 tonnes of steel for each new MW of capacity.