ITI Ltd Commissions a 1 MW Solar Plant at its Palakkad Plant

Multi-technology public sector major ITI Limited has commissioned a 1MW on-grid solar power plant at its ITI Palakkad Plant. The solar plant was inaugurated by Shri Rajesh Rai, Chairman and Managing Director (CMD) of ITI Limited in the presence of Shri. Nagraj K.V., General Manager & Unit Head, and Shri. Prince R V, Additional General Manager.

With the commissioning of the system, ITI Limited will not only be able to save big on electricity charges but also will be able to bank and sell surplus energy to the energy grid of Kerala State Electricity Board Limited (KSEBL) as bidirectional ABT Meters have been commissioned here. ITI Palakkad Plant will be saving significantly on energy bills on account of this installation.

Speaking at the inauguration, Shri Rajesh Rai, CMD, ITI Limited said, "We are very happy to inaugurate the solar power plant, which is a significant step in our sustainability journey and also in our energy conservation endeavors. This initiative is in line with our commitment of reducing our carbon footprint and promoting clean energy. Mr. Rai added, "Another heartening thing to note here and for which we are very proud is that 3702 Solar PV Panels of 325Wp have been sourced from ITI Limited's Naini Plant which manufactures them. We look forward to scaling up the solar projects across our different Units. Commissioning of the Plant was a part of our continued and sincere efforts to contribute to our country's greener future."

With this installation, ITI Limited will be able to reduce 750 tonnes of CO2 every year which is equivalent to the tree plantation of around 4500 numbers per year and the Plant will generate 12.5 Lacs units of energy per year. The Project aims to contribute towards environmental sustainability & marks an important milestone on the road to Company's goal of adopting new technology. Currently, ITI Limited has roof-top captive solar power plants at its Units in Naini, Raebareli, Mankapur, Lucknow, and Bangalore.

Shares of ITI Limited was last trading in BSE at Rs. 94.25 as compared to the previous close of Rs. 93.72. The total number of shares traded during the day was 14378 in over 454 trades.

The stock hit an intraday high of Rs. 95.40 and intraday low of 93.86. The net turnover during the day was Rs. 1356319.00.

Source : Equity Bulls

Keywords

ITI INE248A01017 1MW OnGrid SolarPowerPlant Palakkad