Shyam Metalics and Energy Ltd., a prominent integrated metal manufacturing company in India, is venturing into clean energy by incorporating rooftop and floating solar systems across its facilities nationwide. This move highlights the company’s dedication to sustainable energy, decarbonization, and contributing to the nation’s green energy goals.
The company has launched Phase 1 of the project with a capacity of 5.2 MWp, followed by Phase 2, which will have a capacity of 4.8 MWp. Phase 3 will be executed under a Group Captive and OPEX model, with a Renewable Energy Service Company (RESCO) collaborating with Shyam Metalics and Energy Ltd. to develop 10.43 MWp of distributed projects. The generated electricity will be used for captive consumption at an agreed tariff. The projects will involve installing floating solar and rooftop systems on industrial sheds, administrative and residential buildings, and reservoirs at the company’s manufacturing sites in Kolkata, Pakuria, Jamuria, and Mangalpur in West Bengal; Sambalpur in Odisha; and Pithampur in Madhya Pradesh. In FY 24, the average power cost was Rs. 3.10/kWh. The new solar plants are expected to further reduce power costs.
The total solar capacity of 20.43 MWp is projected to generate 35,793.36 MWh of clean energy annually, offsetting 35,077.49 tons of CO2 emissions. Floating solar installations will also contribute to water conservation by reducing evaporation and are expected to improve photovoltaic panel efficiency by 5-10% due to the cooling effect of water bodies. The company currently has a captive power generation capacity of 377 MW and 9 MW of renewable power capacity and produces long steel products, ferro alloys, and aluminum foils across the value chain.
Mr. Brij Bhushan Aggarwal, Vice Chairman and Managing Director, commented, “Shyam Metalics is dedicated to responsible business practices and minimizing our carbon footprint. Investing in renewable energy for our manufacturing facilities aligns us with clean energy consumption and supports the Government’s ‘Panchamrit’ goals. As industry leaders, we aim to inspire other businesses to adopt sustainable and clean energy practices.”
The company is also partnering with EPC contractors for CAPEX projects and RESCO for OPEX projects to ensure efficient and cost-effective implementation.
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