Gujarats leading solar power generating company, KPI Global, has recently announced receiving an order for building a 12.5 megawatts solar project under the captive power producer capacity from Surat-headquartered Anupam Rasayan India.
It has been reported that the solar company had received a Letter of Intent (LoI) for the project from Anupam Rasayan, the firm pioneering in production and custom synthesis of specialty chemicals in the country.
According to official sources, the entire capital expenditure of Rs. 43 crores would be financed from Anupam Rasayans recently concluded IPO proceeds. On completion, the plant would cater to the energy requirement of the companys major units.
Commenting on the planned investment, MD of Anupam Rasayan, Anand Desai stated that environmental sustainability has been one of the highest priorities for the company, and it is constantly looking into opportunities into renewable energy space.
Mr. Desai added that the proposed solar plant would help the firm rationalize its energy costs through an anticipated savings of around Rs. 10 crores annually for the next 25 years.
In fact, Anand mentioned that this novel investment stands out to be a significant step in terms of Anupam Rasayans transition towards cleaner source of energy.
Meanwhile, speaking on captive solar power plants, MD and Chairman at KPI Global Infrastructure, Faruk Patel quoted that these plants form a profitable scheme for emerging MSMEs.
As per Mr. Patel, most production units in MSME segment have small roof size and poor infrastructure, which allows them to barely meet 5% to 10% of their energy consumption from solar installation, while energy consumption accounts for 25 to 40% of their overall production cost.
Turning to captive solar plants would allow these enterprises to not only support them in addressing the challenges put forth by global warming, but also generate additional cash flows for their business.
Faruk further cited that MSMEs are now being offered ample funding for them to make a switch to captive solar plants to accentuate their profits.