In a significant step towards sustainability, Cyient DLM Limited, an integrated electronics manufacturing leader, has partnered with Arcedo Systems, a renewable energy solutions provider, to establish a 500 kWp rooftop solar power plant at its Mysore facility. This collaboration marks Cyient DLM’s continued commitment to advancing its Environmental, Social, and Governance (ESG) initiatives.
The Memorandum of Understanding (MoU) between the two companies outlines a strategic project where Arcedo Systems will design, engineer, install, and maintain the solar power plant. The plant will operate under a long-term Power Purchase Agreement (PPA), with Cyient DLM procuring clean energy generated on-site. This move underscores the importance of integrating renewable energy solutions in industrial operations.
Post the announcement, the share price of Cyient DLM surged to an intraday high of ₹718.60 on NSE. However, the stock has retreated from the day’s high on December 4, 2024, to trade below ₹700.
The rooftop solar plant is expected to provide substantial energy cost savings for Cyient DLM while contributing to India’s national renewable energy objectives. By leveraging solar energy in its operations, Cyient DLM is not just lowering its carbon footprint but also setting an example for other industrial players.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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