Ramkrishna Forgings plans to setup 85 MW solar capacity: CFO Lalit Khetan
Ramkrishna Forgings is planning multi-crore investments to set up around 85 mega watt (MW) renewable energy capacity, company CFO Lalit Khetan has said.
The company aims to execute the plan over the next 12 months, Khetan said.
Out of the planned 85 MW green capacity, about 8 MW roof-top solar project will be set up at the company's forging plants at Sariekella and Dugni, in Jamshedpur, he told PTI.
"The total cost of the 8 MW project is estimated to be approximately Rs 35 crore, which will be financed by a mix of debt and equity," Kehtan, who is also the Executive Director of the company said.
The power generated will be used for captive consumption, reducing the company's dependence on grid power, he said.
When asked if the company plans more green projects to increase usage of clean energy, Khetan replied in affirmative.
"Our commitment is responsible business practices and dedication to reducing carbon footprint. We look to explore setting up another solar capacity of up to 7