Godawari Power & Ispat Ltd, a Chattisgarh-headquartered integrated steel manufacturer, will set up a solar power plant of 250 MW capacity in the Raigarh district of Chhattisgarh. The Board of the company recently approved the proposal to set up the plant at a cost of about INR 750 crore.
The plant is expected to be commissioned by December 2022 and generate 370 million units of electricity per annum. The power generated from the solar project will replace the high-cost thermal and grid power, and be utilized for the enhanced billet capacity in the company’s existing plant situated in the Raipur district of the State.
The project shall be funded mainly out of internal accruals.
The solar plant shall come up over an existing idle land parcel of 362 hectares acquired by the company in the FY 2011-12.
Currently, Godawari Power & Ispat Limited’s steel plant has a captive power generation capacity of 73 MW, including 42 MW captive energy from waste heat recovery, 11 MW from a coal-fired thermal power plant, and 20 MW from biomass power capacity. Additionally, it gets 25 MW from a coal-fired thermal power plant by its arm Jagdamba Power and 50 MW from a solar thermal power plant in Rajasthan to meet its electricity needs.
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