Mr Neeraj Kochhar CMD of Viraj Profiles & Mr. Vineet Mittal Chairperson of Avaada Energy signed the MOU
Mumbai (Maharashtra) [India], March 10:Â Viraj Profiles Private Limited, a leading Indian Stainless Steel manufacturer company, partnered with Avaada Energy Pvt. Ltd. to establish a 100MW captive solar plant at Tarapur as the company has been taking several initiatives regularly towards creating a greener tomorrow and has yet again come up with a significant add-on.
Mr Neeraj Kochhar, CMD of Viraj Profiles & Mr. Vineet Mittal, Chairperson of Avaada Energy, signed the MOU and exchange to contribute towards building a sustainable, greener world.
Viraj Profiles, along with Avaada Energy, shall set up a Special Purpose Vehicle (SPV) to build a 100 MW captive solar plant. This project is expected to be commissioned by February 2024 and aims to generate about 207 MUs of energy per year, which will offset approximately 182 million kilos of CO2 annually. The power generated will be used for captive consumption by Viraj Profile Limited’s Tarapur Plant, whose power dependability on non-renewable resources will be reduced by 50%.
Mr Neeraj Kochhar, CMD, said, “We are glad to associate with Avaada Energy Pvt Ltd. Our alliance will work as a catalyst in the process of achieving our sustainability goals towards creating a carbon-neutral environment for the future generation. Viraj is the First Stainless Steel Long products manufacturing company in India which is going to use Solar Energy for running its manufacturing plants and operations. This Solar Power project is going to supply 50% of our total monthly electricity requirement.â€
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