Gallantt Ispat Powers Ahead with 80 MW Solar Plant in Sustainability Push

Image Source: ScanX

Gallantt Ispat Ltd has announced plans to establish a solar power plant with a capacity ranging from 62.5 MW to 80 MW. The initiative is part of a broader ₹1,014.98 crore capex plan aimed at expanding steel production and enhancing energy self-sufficiency through renewable sources by March 2026.

Gallantt Ispat Ltd is making a bold move into renewable energy with plans to set up a solar power plant ranging from 62.5 MW to 80 MW capacity. This initiative is part of a larger ₹1,014.98 crore capital expenditure program approved by the company’s board to expand its steel production and energy infrastructure.

Key Highlights:

Solar Capacity Expansion: The proposed solar power plant will have a capacity between 62.5 MW and 80 MW, aimed at supporting captive energy needs and reducing carbon footprint.

Capex Commitment: The solar initiative is part of a ₹1,014.98 crore capex plan that includes brownfield expansion of steel billet, rolling mill, sponge iron, and pellet production capacities.

Funding Strategy: The entire project will be funded through internal accruals, with no external debt, ensuring financial stability and operational control.

Execution Timeline: Gallantt Ispat aims to complete the solar plant and associated expansions by March 2026, leveraging existing infrastructure for faster deployment.

Location Advantage: The solar facility will complement operations at the company’s integrated steel plants in Gorakhpur, Uttar Pradesh, and Kutch, Gujarat.

Sustainability Focus: The move aligns with India’s renewable energy goals and reflects Gallantt’s commitment to sustainable industrial practices.

Operational Impact: The solar plant will enhance energy self-sufficiency, reduce reliance on thermal power, and contribute to long-term cost savings.

Market Reaction: Following the announcement, Gallantt Ispat’s stock touched a 52-week high, reflecting investor optimism about its growth and sustainability strategy.

This strategic expansion positions Gallantt Ispat as a forward-looking industrial player embracing clean energy solutions. By integrating solar power into its operations, the company is not only future-proofing its energy needs but also contributing to India’s broader climate and energy transition goals.

Sources: ScanX News Business Standard Angel One

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