Everest Industries has announced its plan to procure 5.5 megawatt-peak (MWp) of solar power from Gentari (Amplus Solar) under a group captive model, strengthening its renewable energy commitment in Maharashtra.
As part of this initiative, the company will invest approximately Rs 17.6 million in Amplus Ampere, a special purpose vehicle (SPV) of Amplus Solar, by acquiring 1.76 million equity shares at a face value of Rs 10 each. The move is aimed at enabling captive open access for solar energy usage and enhancing Everest Industries' green energy footprint in the state.
In FY 2023鈥�24, the company consumed 152,023.4 gigajoules (GJ) of electricity from renewable sources, accounting for 44.88 per cent of its total power consumption of 338,719.14 GJ.
Everest Industries has already installed around 2,800 kilowatts (kW) of rooftop solar capacity across its facilities. Notable installations include:
A 700 kWp plant at Narmada Works in Gujarat, meeting 42 per cent of the unit鈥檚 energy demand.
A 1,100 kWp captive plant at Lakhmapur Works in Maharashtra, supplying 11 per cent of the facility鈥檚 power needs.
A 500 kWp captive plant commissioned at Somnathpur Works in Odisha in March 2024.
These efforts are part of the company鈥檚 broader strategy to reduce its carbon footprint and dependency on conventional energy, contributing to a more sustainable industrial future.
Image source:mercomindia
