Rama Steel Tubes forays into renewable energy
Rama Steel Tubes announced a strategic investment in the renewable energy space through its participation as a Joint Venture (JV) partner in a 225 MW solar power project under the Government of India's ambitious PM-KUSUM scheme. The project, structured under Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra. It has successfully signed Power Purchase Agreements (PPAs) with the Maharashtra State Electricity Distribution Company (MSEDCL) at a fixed tariff of Rs 3.10 per unit for a 25-year term.
This move marks Rama Steel Tubes' entry into the fast-growing renewable energy sector, reinforcing its commitment to Environmental, Social and Governance (ESG) goals, and creating long-term value for shareholders.
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