Hi-Tech Pipes Ltd., a leading manufacturer of steel tubes and pipes in India, is making significant strides towards decarbonising its manufacturing facilities. In alignment with India’s ambitious goals for zero carbon emissions by 2070 and the National Green Hydrogen Mission, the company is implementing various green energy projects.
The Government of India, under the leadership of Prime Minister Narendra Modi, has set forth strategic climate goals aimed at reducing carbon emissions by 30% to 35% by 2030 and achieving zero carbon emissions by 2070. These initiatives are supported by policies promoting the generation of green power through renewable sources like solar and wind energy.
Hi-Tech Pipes Ltd. has committed to decarbonising its manufacturing facilities by 2033, with a target of achieving 60% decarbonisation by 2030. The company’s initiatives are in line with the broader strategic goals set by the Indian government.
To achieve its decarbonisation goals, Hi-Tech Pipes has undertaken several projects to generate and source green power. The company’s current and proposed green power generation capacities are as follows:
Installed Rooftop Solar Power Plants: 3.5 MW
Group Captive Open Access Solar Projects: 5.0 MW
Additional Roof Top Solar Power Plants: 2.0 MW (expected by December 31, 2024)
Group Captive Open Access Solar Projects: 3.0 MW (expected by September 1, 2024)
With these initiatives, the company aims to have a total green power capacity of 13.5 MW, contributing to approximately 30% of its total power requirements. This not only aids in decarbonisation but also helps reduce power costs.
Hi-Tech Pipes has also ventured into the generation and captive consumption of green hydrogen gas. The company has signed an MoU with a leading renewable energy supplier to establish green hydrogen projects. This partnership leverages the supplier’s EPC credentials and R&D capabilities in green hydrogen.
Existing Capacity: Nil
Proposed Capacity: 2.4 Lac cubic meters
Mr. Ajay Kumar Bansal, Chairman of Hi-Tech Pipes Ltd., emphasized the significance of these initiatives in supporting India’s green hydrogen aspirations and decarbonisation journey. The company’s focus on green hydrogen projects, particularly at its Sikanderabad plant in Uttar Pradesh, aligns with the Indian government’s green hydrogen policy aimed at boosting production and reducing dependency on imported fossil fuels.
Hi-Tech Pipes Ltd. is one of India’s leading steel processing companies, known for its innovative products in steel pipes, hollow sections, tubes, cold-rolled coils, and various galvanised products. With six state-of-the-art integrated manufacturing facilities across India and a strong presence in over 20 states, the company is poised to reach a consolidated capacity of 1 million tonnes by FY25.
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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