Hi-Tech Pipes Initiates 5 MW Captive Green Power Utilisation

Hi-Tech Pipes Limited has announced the commencement of 5 MW of captive green power utilisation, underscoring its commitment to sustainability through innovative energy solutions. This initiative harnesses energy from a combination of rooftop solar installations and open access agreements, reinforcing the company’s leadership in environmentally responsible manufacturing.

The new development includes 3 MW sourced from a Group Captive open-access solar project and an additional 1 MW generated from a newly established rooftop solar plant at its Sanand Unit II Phase 1. This expansion brings Hi-Tech Pipes’ total solar power consumption to 13.5 MW, enabling significant energy cost reductions while advancing its Environmental, Social, and Governance (ESG) objectives.

In alignment with India’s ambitious goal of achieving net-zero carbon emissions by 2070 and reducing emissions by 30% to 35% by 2030, the government is actively promoting the generation of green power through renewable sources such as solar and wind energy. Hi-Tech Pipes is proud to contribute to this national vision, demonstrating its commitment to sustainable practices and paving the way for a greener future. This initiative not only reflects corporate responsibility but also positions the company favourably within the evolving landscape of eco-friendly manufacturing.

Commenting on the development, the Chairman of Hi-Tech Pipes Ltd, Mr Ajay Kumar Bansal, said, “We are thrilled to expand our green energy initiatives with the commencement of 5 MW of

captive green power utilisation. This advancement not only leads to significant savings in power costs but also demonstrates our ongoing commitment to sustainable practices and our responsibility to the environment.”

He further added, “By utilising green power, Hi-Tech is reducing its reliance on non-renewable energy sources, thereby contributing to a cleaner and more sustainable future. This move is expected to yield significant financial benefits, allowing the company to invest further in innovative solutions and enhance operational efficiency. As part of its comprehensive sustainability strategy, Hi-Tech is dedicated to exploring additional renewable energy solutions that align with its ESG goals, ensuring a positive impact on both the environment and the communities it serves.”

On October 17, 2024, the share price of Hi-Tech Pipes Ltd opened at ₹200.05, touching the day’s low at ₹185.90, as of 12:05 PM on the NSE.

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