Federal Bank Inaugurates 100KWp On-grid Solar Power Plant at Corporate Office

Federal Bank, a leading private sector bank in India, has inaugurated a 100KWp on-grid solar power plant at its corporate office, Federal Towers in Aluva. The solar plant was inaugurated by the Bank's MD & CEO, Shyam Srinivasan, in the presence of other senior executives of the Bank.

Speaking at the inauguration, Shyam Srinivasan said, "We are delighted to inaugurate the solar power plant, which is a significant milestone in our sustainability journey. This initiative is in line with our commitment to reducing our carbon footprint and promoting clean energy. With this installation, we will be able to reduce emissions by 129 tCO2 every year."

Federal Bank has been committed to promoting renewable energy and reducing its carbon footprint. With the inauguration of this solar power plant, the total capacity of solar plant installations at Federal Bank has increased to 300KWp. The units being generated out of this powerplant will reduce the consumption of power by 20%. The Bank has also installed solar panels at several of its branches and offices across the country. The Bank is strengthening its Rishta with the environment with these initiatives.

The event was attended by the Bank's executives, including Venkatraman Venkateswaran, Group President & CFO, Ajith Kumar K K, President & CHRO, Damodaran C, SVP & Chief Risk Officer, and Hema Sivadasan, DVP & Head Corporate Services, who expressed their support for the Bank's sustainability initiatives.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 127.35 as compared to the previous close of Rs. 126.05. The total number of shares traded during the day was 519759 in over 4762 trades.

The stock hit an intraday high of Rs. 128.25 and intraday low of 125.00. The net turnover during the day was Rs. 66012660.00.

Source : Equity Bulls

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TheFederalBank INE171A01029 OngridSolarPowerPlant FederalTowers Aluva 100KWp