Mukand Enters Solar Partnership with Tata Power for Eco-Friendly Steel Production

30 Oct 2023 , 01:56 PM

Mukand’s share price saw a slight increase in early trading on October 30 following its partnership with Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power. 

The companies have entered a Power Delivery Agreement (PDA) for a 43.75 MW AC Group Captive Solar project located in Jamkhed, Maharashtra. This solar installation is expected to generate 99.82 MUs annually and aims to meet Mukand Limited’s energy needs while making steel manufacturing processes more environmentally friendly.

TPREL will be responsible for constructing, operating, and maintaining the group’s captive solar power plant. The project is set to be commissioned by March 2024, emphasizing TPREL’s commitment to promoting non-conventional energy solutions for its partners.

Mukand has scheduled a board of directors meeting for November 9, 2023, during which the unaudited financial results for the quarter ending on September 30, 2023, will be reviewed and approved. 

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