Aether Industries Powers Up with 15 MW Solar Project

31 Dec 2024 , 07:16 PM

Aether Industries Ltd announced the commissioning of its 15 MW solar power project on December 30, 2024, under the Captive Power Producer (CPP) segment. Collaborative development with KPIG Energia Private Ltd, a subsidiary of KPI Green Energy Ltd, this project is now operational.

It is an advanced Auto-Tracker Module installed at the location in Bharuch, Gujarat. The energy that the module produces is maximized as it follows the sun throughout the day and is used to work on efficiency.
The project is expected to save over ₹15 crore annually in energy costs while helping reduce the carbon footprint of Aether Industries.

This is in line with Aether’s ESG goals, thus reaffirming its commitment to sustainability. On the NSE, Aether shares closed at ₹886 which is a 0.91% gain than the previous close The stock has witnessed a total of 0.42% gain in the last one year, and 4.40% dip in the last six months. Aether saw its net profit slip 4.4% year over year (YoY) to ₹35 crore for Q2 FY24, while revenues surged 21.2% to ₹198.7 crore from ₹164 crore in the same quarter a year ago.

In October 2024, Aether entered into a three-year contract with Chemoxy International Ltd. of the SEQENS group, for the manufacturing of bio-based products. It will start the production within 10 months.