Ramkrishna Forgings Plans to Set up 85 MW Renewable Energy Capacity in a Year

Ramkrishna Forgings is planning multi-million investments to set up around 85 megawatt (MW) renewable energy capacity, company CFO Lalit Khetan has said. The company aims to execute the plan over the next 12 months, Khetan said.

Out of the planned 85 MW green capacity, about 8 MW rooftop solar project will be set up at the company's forging plants at Sariekella and Dugni, in Jamshedpur, he said.

"The total cost of the 8 MW project is estimated to be approximately Rs 350 million, which will be financed by a mix of debt and equity," Kehtan, who is also the Executive Director of the company said.

The power generated will be used for captive consumption, reducing the company's dependence on grid power, he said. When asked if the company plans more green projects to increase usage of clean energy, Khetan replied in affirmative.