Investment5 Jun 2025, 01:45 pm
Rama Steel Tubes Limited Steps into Renewable Energy with Stake in 225 MW PM-KUSUM Solar Power Project
AI Summary
Rama Steel Tubes Limited (RSTL), a leading name in the steel tubes and pipes manufacturing sector, has made a strategic investment in the renewable energy space through its participation as a Joint Venture (JV) partner in a 225 MW solar power project under the Government of India’s ambitious PM-KUSUM scheme. The project, structured under Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra and has signed Power Purchase Agreements (PPAs) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of INR 3.10 per unit for a 25-year term.
Key Highlights
- RSTL has a 10% equity in Onix IPP, a Special Purpose Vehicle (SPV) for the 225 MW solar power project.
- The project is aligned with the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM- KUSUM) initiative.
- The project supports rural development by creating new energy infrastructure, empowering local economies, and reinforcing India's commitment to clean energy.
- This investment marks Rama Steel Tubes' entry into the fast-growing renewable energy sector.
- The project will proportionally benefit Rama Steel Tubes with recurring income, adding a new dimension of sustainability-linked revenue to its business portfolio.