Ramkrishna Forgings To Invest in 85 MW Renewable Energy Capacity

Ramkrishna Forgings plans multi-crore investments in order to establish around 85 megawatt (MW) of renewable energy capacity. Company CFO Lalit Khetan stated this. He said that the company plans to implement the plan in the next 12 months.

Khetan told PTI that the company will have 8 MW of the 85 MW of green capacity at its forging plant at Sariekella, Jamshedpur.

Kehtan, stated that the total cost of 8 MW is approximately Rs 35 crore. This will be funded by a combination of equity and debt.

He further stated that the power generated will be used to reduce company dependence on grid power.

Khetan answered affirmatively when asked if the company planned to invest more in green projects to increase clean energy usage.

Our commitment to responsible business practices and reducing our carbon footprint is what we stand for. He said that Jamshedpur has the potential to host another 75 MW solar power plant.

However, the company official did not give any financial details about the 75 MW of renewable energy capacity.

According to industry estimates, it takes around Rs 5 crore to put up 1 MW of solar projects.

He stated, "These projects will assist us in achieving our goal of carbon neutrality before 2030."