Ramkrishna Forgings to invest Rs 35cr in roof-top solar project in Jamshedpur

Ramkrishna Forgings said that it will invest around INR 35 crores to install a 7.82MW roof-top solar project at its existing forging plants in Seraikela and Dugni at Jamshedpur.

The announcement is said to be a major step from the manufacturer of the forged products towards meeting its commitment to achieving carbon neutrality via investing in renewable energy.

When the project is complete, the generated power will be used by Ramkrishna Forgings to power its private consumption, which will reduce the dependency of the company on grid electricity.

The roof-top solar project will aid the company in achieving its environmental, social, and corporate governance (ESG) goals and is said to contribute to the bigger ambition of creating sustainability in the future.

Ramkrishna Forgings to invest Rs 35cr in roof-top solar project in Jamshedpur. Photo courtesy of VoltaroEnergy from Pixabay.

Ramkrishna Forgings will fund the solar roof-top project in Jamshedpur with a combination of equity and debt.

The investment in the renewable energy initiative demonstrates its commitment to responsible business practices and its determination to bring down its carbon footprint, said Ramkrishna Forgings.

Lalit Kumar Khetan — Ramkrishna Forgings Executive Director and CFO 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.”