Chemicals Firm Anupam Rasayan India to set up 12.5 MW Solar Plant

Anupam Rasayan India has announced that it will invest Rs 43 crore to set up a 12.5 MW solar power plant

Specialty chemical company Anupam Rasayan India has announced that it will invest Rs 43 crore to set up a 12.5 megawatt (MW) solar power plant in an attempt to lower its carbon footprint and save on electricity costs in the long term. 

“In a conscious move towards reducing dependence on non-renewable energy and cost saving measure, Anupam Rasayan… has issued a letter of intent to install solar power by investing a sum of Rs 43 crore,” the company stated in a regulatory filing.

As per the filing, the entire capital expenditure of Rs 43 crore will be funded from its IPO proceeds. The firm had come out with its Rs 760 crore initial public offer (IPO) in March this year.

The size of the proposed solar power plant will be 12.5 MW and will cater to the energy requirements of Anupam Rasayan’s major units which are all primarily located in the state of Gujarat.

In April, as a part of its mission to rapidly grow its green energy footprint, Bharti Airtel, one of India’s premier digital communications solutions providers, has announced that it has commissioned a 14 MWp captive solar power plant to meet the energy requirements of its core and edge data centres in Uttar Pradesh.

In January, Cipla Limited, a leading pharma firm announced the start of a 30 MW solar plant project at Tuljapur, Maharashtra. The plant will support its production facilities and reduce emissions linked to energy commission there. The 30 MW project, built in partnership with APM Energy India, is spread over 115 acres.

The project will benefit the company’s manufacturing units at Kurkumbh and Patalganga in Maharashtra. It will also help the company cut emissions by as much as 35,000 tonnes of carbon dioxide equivalent annually over its project life of 25 years, it’s release to the Bombay Stock exchange added.