Jindal Stainless secured a further 7% equity interest in a special purpose vehicle established alongside Ampin C&I. This entity will build a 40 MW solar group captive renewable energy facility to supply power to the company’s manufacturing sites. The installation anticipates an annual output of 61.73 million units for the firm’s internal use.
The company finished its total investment of around ₹13.83 crore by paying a final portion of approximately ₹5.08 crore. This move raises the total equity stake held by Jindal Stainless in the venture to 24.21%. The project serves to provide renewable power for the company’s industrial operations.
Jindal Stainless mentioned that sourcing electricity from this site matches its goal to support expansion via renewable energy. The company stated it intends to achieve net zero carbon emissions by 2050. Jindal Stainless functions as a major stainless steel conglomerate in India and holds a position among the top 10 such firms globally.
Based on company and agency reports. For information only; not investment advice.