Rama Steel Tubes Partners with Onix Renewable for Solar Projects

On September 4, 2024, Rama Steel Tubes Limited (RSTL) announced a strategic collaboration with Onix Renewable Ltd, marking a significant entry into the green energy sector. This partnership will harness the strengths of both companies to enhance the solar energy landscape through the provision of specialised steel structures and advanced tracking systems.

The collaboration will leverage RSTL’s expertise in developing high-quality steel structures and tracker tubes, which are essential components for solar energy projects. Initially, RSTL will provide single-axis trackers and, in the future, expand to dual-axis trackers, which are crucial for optimising solar energy capture in Onix Renewable’s solar projects. This venture aligns with RSTL’s strategic goal to enter and establish a strong presence in the renewable energy sector.

Mr Richi Bansal, Whole-Time Director and CEO of RSTL, expressed enthusiasm about the collaboration, emphasising the company’s commitment to delivering products that meet the highest standards of reliability, durability, and performance. The steel structures and trackers developed by RSTL will be integral to the success of greenfield solar projects, ensuring their structural integrity and efficiency over the long term.

The partnership is expected to have a positive impact on RSTL’s EBITDA, reflecting the benefits of diversifying into the renewable energy sector. By delivering top-quality solutions for solar energy projects, RSTL aims to contribute significantly to the success and sustainability of these initiatives. The collaboration also represents a strategic move towards supporting a greener future and underscores RSTL’s commitment to advancing the renewable energy sector.

As RSTL embarks on this new journey, the focus on high-quality steel structures and innovative tracking systems will play a critical role in enhancing the performance and longevity of solar projects.

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.