Himatsingka Seide Limited Invests in Green Energy with Isharays Energy One

Himatsingka Seide Limited (HSL), a leading textile manufacturer, has taken a significant step towards a more sustainable future by investing in Isharays Energy One Private Limited. This strategic move, announced in January 2024 and finalised on July 02, 2024, underscores HSL’s commitment to reducing its carbon footprint and embracing renewable energy solutions.

Powering Up with Green Energy

The initial announcement in January 2024 indicated the Board of Directors’ approval for an investment of up to ₹4 crore in Isharays Energy One. This investment aligns with HSL’s long-term vision of securing a sustainable source of power for its operations. On July 02, 2024, HSL confirmed the investment, finalising the acquisition of 40,00,000 Class A equity shares of ₹10/- each in Isharays Energy One, representing 10.97% of the company’s total paid-up capital.

Driving Sustainability and Reducing Carbon Footprint

This investment serves a dual purpose for HSL. Firstly, it allows the company to procure clean energy from Isharays Energy One, fulfilling a portion of its power requirements through a renewable source. Secondly, the move contributes to HSL’s commitment to environmental responsibility by reducing its overall carbon footprint. This aligns with the growing focus on sustainability within the textile industry.

Potential Benefits Under Group Captive Power Scheme

The investment in Isharays Energy One might also qualify under the Group Captive Power Scheme, a government initiative promoting the adoption of captive power plants for industrial clusters. This scheme offers potential benefits such as tax exemptions and regulatory advantages for companies participating in such initiatives.

Looking Ahead: A Sustainable Future for HSL

Himatsingka Seide Limited’s investment in Isharays Energy One represents a significant step towards a more sustainable future for the company. This move not only secures a clean energy source but also demonstrates HSL’s commitment to environmental responsibility and its alignment with evolving industry trends. As HSL integrates this renewable energy solution, it will be interesting to see the impact on their overall energy consumption and carbon footprint reduction efforts. The success of this initiative can pave the way for further advancements in HSL’s sustainability journey.

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.