By generating solar power on-site, Rhetan TMT aims to reduce its dependence on conventional electricity sources and contribute to sustainability goals.

Oct 4, 2024

Rhetan TMT Limited, a manufacturer of structured steel products, has decided to set up a solar power plant worth INR 40 crore and having capacity up to 2 MW, to meet the energy requirements of its factory located at Kadi village in Gujarat.

As per the company, the Board of Rhetan TMT approved the plan during its meeting held on September 20. A Letter of Intent (LOI) has already been executed to initiate this project, anticipated to commence in 2025.

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Rhetan will now submit an application to the Gujarat Energy Development Agency (GEDA) to secure the necessary approvals. This will be followed by a Technical Feasibility Report (TFR) to assess the project’s viability. A lease agreement will be subsequently executed for the designated property to facilitate the development of the solar power plant.

In January this year, Rhetan entered into a Memorandum of Understanding (MoU) with the Commissioner of Municipalities Administration, Government of Gujarat, for the establishment of the solar plant. The Government of Gujarat will assist the company in obtaining necessary permissions and approvals from state departments, ensuring a timely process within the framework of existing state policies and regulations.

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The leading manufacturer of TMT bars and round bars said by generating solar power on-site, it aimed to reduce its dependence on conventional electricity sources and contribute to sustainability goals.