Shree Ajit Pulp and Paper to install 17 MW of solar capacity at Gujarat manufacturing units

Shree Ajit Pulp and Paper Limited plans to install a combined 17 MW of solar power capacity across its two manufacturing units in Valsad, Gujarat, as part of an investment aimed at reducing electricity costs through captive renewable energy generation.

The company will install a 10 MW solar plant at Unit 1 and a 7 MW facility at Unit 2. The total estimated investment for the projects is ₹62 crore.

To finance the capital expenditure, the company plans to avail a term loan facility of up to ₹50 crore.

The installation will be carried out in phases across two financial years. The 10 MW solar plant at Unit 1 is targeted for completion by the end of the current financial year, while the 7 MW facility at Unit 2 is scheduled for completion in the following financial year.

The investment is intended to reduce the company's dependence on purchased electricity and lower power costs associated with its Kraft paper manufacturing operations.

According to the company's disclosure, the captive solar installations are expected to offset a portion of its operational electricity expenses.

The ₹50 crore term loan represents approximately 80% of the estimated ₹62 crore project cost, with the remaining funding requirement accounting for approximately ₹12 crore.

The planned 17 MW installation marks an investment in renewable energy infrastructure across the company's Gujarat manufacturing operations, with the phased implementation extending over two financial years.