• Corporate / Business TECHNOLOGY

Ashnisha Industries Ltd. Signs Letter of Intent for Procurement of Land for Set up of 3MW Solar Power Plant

• nationalherald
• September 27, 2023

Ahmedabad, 25 September 2023: Ashnisha Industries Ltd. (BSE: 541702), a leader in the business of manufacturing and trading of steel and steel alloys, has announced that the company has signed a Letter of Intent (LOI) for the land situated at Village: Patdi, Dist.: Surendranagar, to be used for setting up of Solar Power Plant with a capacity of 3MW.

Earlier, the company had has announced that its board had approved its foray in the business of solar power projects and authorized the director of the company to collaborate with vendors for procurement of land on lease for the purpose of setting up of Solar Power Plant Fields.

Ashnisha Industries Ltd. has solidified its position as a prominent player in the manufacturing and trading of Steel and Steel alloys. The company has consistently delivered top-quality products and services, earning the trust of its customers and stakeholders alike.

Founded on the principles of excellence, innovation, and sustainability, Ashnisha Industries Ltd. has continually evolved to meet the dynamic demands of the industrial landscape. In a strategic move to adapt to the evolving global energy landscape and contribute to a sustainable future, the board of Ashnisha Industries Ltd. has considered and approved the company’s entry into the business of solar power projects, subject to shareholders’ approval. The decision to foray into the solar industry is a testament to its dedication to innovation and its responsibility as a corporate entity to address environmental concerns.

The solar power industry is a rapidly expanding sector that harnesses the abundant energy from the sun to generate electricity. With a growing focus on renewable energy sources, solar power has emerged as a game-changer in the quest for sustainable and eco-friendly solutions to meet the world’s energy needs. The adoption of solar power is driven by its numerous benefits, including reduced greenhouse gas emissions, lower operational costs, and a reduced dependence on fossil fuels.

Solar power projects are not only an environmentally responsible choice but also a smart long-term investment. As technology advances and economies of scale improve, solar energy has become increasingly competitive, making it a viable and attractive option for power generation across the globe. By venturing into the solar power industry, Ashnisha Industries Ltd. aims to play an instrumental role in India’s clean energy transition and contribute significantly to the nation’s sustainable development.