Shyam Metalics Ventures into Clean Energy with 20.43 MWp Solar Projects

Shyam Metalics and Energy Ltd., a leading metal manufacturing company in India, is expanding into clean energy by integrating rooftop and floating solar projects across its facilities nationwide. In Phase 1, the company will install 5.2 MWp capacity, followed by 4.8 MWp in Phase 2. Phase 3 will include a 10.43 MWp distributed project under a Group Captive and OPEX model, in partnership with a Renewable Energy Service Company (RESCO).

These solar installations, spread across West Bengal, Odisha, and Madhya Pradesh, are expected to generate 35,793.36 MWh of clean energy annually, offsetting 35,077.49 tons of CO2 emissions. The floating solar panels will also aid in water conservation and improve panel efficiency by 5-10%. This initiative reflects Shyam Metalics' commitment to sustainability and reducing power costs, which averaged Rs. 3.10/Kwh in FY24. The company currently has a captive power generation capacity of 377 MW, including 9 MW of renewable energy.

Brij Bhushan Aggarwal, Vice Chairman and Managing Director said, “Shyam Metalics is committed to responsible business practices and reducing carbon footprint at our manufacturing facilities. Our investment in renewable energy sources for our manufacturing facilities positions us as a consumer of clean energy. This reinforces our dedication to supporting the Government's "Panchamrit" goals. As industry pioneers, we believe it's our collective efforts to pave the way for other businesses and inspire them to adopt sustainable and clean energy practices.”