Ashnisha Industries Inks Dual Agreements for Solar Power Venture

Ashnisha Industries Limited has made considerable strides in its renewable energy objectives by signing two important agreements. The company signed a Memorandum of Understanding with the Government of Gujarat at the Vibrant Gujarat Global Summit 2024, where plans were drawn up to set up a solar power plant with an investment proposal of Rs. 60 Crore. The project is scheduled to start in 2025. Also, Ashnisha inked a Letter of Intent for land purchase in Surendranagar District for establishing a 3MW capacity solar power plant. These deals represent Ashnisha's entry into the solar power business in a strategic manner, diversifying from its original business of steel manufacturing and trading.
Source: EQ Mag Pro