Gujarat Toolroom is buying 65 hectares of land for a Rs 570 crore hybrid energy project
The company has acquired 65 hectares of land in Gujarat on long-term lease for setting up a Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, the company said.
Gujarat Toolroom on Thursday said it has acquired a 65-acre plot in Gujarat to set up a green energy project at an investment of Rs 572 crore.
“Upon completion, the hybrid power plant aims to contribute 97.5 megawatts of clean and sustainable electricity to the grid,” the company said in an exchange filing.
The company said it aims to set up the factory within three to five years.
The company has acquired 65 hectares of land in Gujarat on long-term lease for setting up a Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, the company said.
While 60 hectares of the acquired land will be used for the installation of solar panels, the remaining will be used for essential energy management infrastructure, including transformer stations and power line terminals. The land development plan includes provisions for the installation of 15 wind turbines on land. Each turbine is expected to produce 2.5 megawatts of energy per hour.
Ahmedabad-based Gujarat Toolroom is engaged in the manufacturing and assembly of industrial machines and equipment.
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First print: May 02, 2024 | 8:49 PM IST