Hi-Tech Pipes Limited launches 5MW captive green power initiative, boosting sustainability efforts

Hi-Tech Pipes Limited, one of India’s leading manufacturers of steel tubes and pipes, announced the commencement of its 5 MW captive green power utilization project. The initiative, launched on 17th October 2024, is a significant step towards enhancing the company’s sustainability goals. The project sources green power from both a 3 MW Group Captive open access solar project and a newly developed 1 MW rooftop solar installation at the company’s Sanand Unit II Phase 1 facility. This marks an expansion in Hi-Tech’s commitment to sustainable energy solutions, further reducing its reliance on non-renewable energy sources.

The company has now achieved a total solar power consumption capacity of 13.5 MW, reinforcing its environmental, social, and governance (ESG) objectives. By leveraging renewable energy sources, Hi-Tech Pipes expects to cut down its energy costs substantially, allowing further investment in operational efficiencies and innovative solutions. This aligns with the Indian government’s ambitious vision for net-zero carbon emissions by 2070 and a targeted reduction of 30-35% in emissions by 2030.

Ajay Kumar Bansal, Chairman of Hi-Tech Pipes Ltd, expressed his enthusiasm for the project, noting that the move highlights the company’s dedication to sustainable practices and environmental responsibility. He added that the company’s investment in green energy not only reduces operational costs but also contributes to a cleaner and more sustainable future. This expansion is seen as a critical component of the company’s larger ESG strategy, which focuses on sustainable growth and positive community impact.

Hi-Tech Pipes Limited has been a prominent player in the steel processing industry for nearly four decades, offering a diverse range of products including solar torque tubes, hollow sections, and color-coated coils. The company operates six state-of-the-art manufacturing facilities across India with a consolidated capacity of 750,000 metric tonnes per annum, which is expected to reach one million tonnes by FY25.

The company’s leadership expressed its plans to explore additional renewable energy options to further advance its ESG goals, ensuring that its operations remain aligned with both national and global sustainability standards.

Industry analysts have highlighted the importance of such initiatives in the current economic and environmental climate. The move by Hi-Tech Pipes, they believe, not only positions the company as a leader in sustainable manufacturing but also sets a benchmark for other firms in the industry. They emphasized that with India’s growing focus on reducing carbon emissions, companies aligning their strategies with national policies will likely benefit from government incentives and increased investor confidence.