Business Update4 Apr 2024, 06:15 pm
Synergy Green Industries Announces 2 MW Solar Project Commissioned, 8 MW Planned for FY 2024-25
AI Summary
Synergy Green Industries has announced the commissioning of a 2 MW captive solar project, which will cater to 3,000 MT of production, accounting for 10% of present capacity. The company plans to install an additional 8 MW during FY 2024-25 to contribute to decarbonization, reduce electricity costs, and hedge against future tariff escalations. With the completion of 10 MW installations, power costs are estimated to decrease from 8% to 6% at PBDIT levels.
Key Highlights
- Commissioned 2 MW solar project for 3,000 MT of production
- Planning to install 8 MW solar project during FY 2024-25
- Solar installations to decarbonize, reduce electricity costs, and hedge against future tariff escalations
- Estimated power costs to decrease from 8% to 6% at PBDIT levels with 10 MW installations