Ramkrishna Forgings Limited ("Company"), one of the leading suppliers of rolled, forged, and machined products has announced a significant step towards fulfilling its commitment of achieving carbon neutrality through an investment in renewable energy. The company plans to install a 7.82 MW capacity roof-top solar project at its existing forging plants in Seraikela and Dugni at Jamshedpur.
Upon completion of the project, the power generated will be used for its captive consumption, reducing the company's dependence on grid power. The project will help the company to achieve its environmental, social, and governance (ESG) vision and contribute to the larger goal of achieving a sustainable future.
The total cost of the project is estimated to be approximately Rs. 35 cr, which will be financed by a mix of debt and equity. The investment in this renewable energy project reflects Ramkrishna Forgings' commitment to responsible business practices and its dedication to reducing its carbon footprint.
Mr. Lalit Kumar Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said, "We are delighted to announce our investment in this renewable energy project, which demonstrates our commitment to sustainability and ESG principles. We believe that this project will help us achieve our goal of carbon neutrality and marks a significant milestone towards creating a cleaner, greener, and more sustainable future."