Hi-Tech Pipes Limiteda major Indian steel tubes and pipes manufacturer, today announced the commencement of its 5 MW captive green power utilization project. The initiative combines 3 MW from a Group Captive open-access Solar Project and 1 MW from a new rooftop solar installation at its Sanand Unit II Phase 1.
The shares of Hi-Tech Pipes Limited were trading at ₹186.48, down by ₹11.90 or 6 per cent on the NSE today at 1:25 pm.
The company’s total solar power consumption has now reached 13.5 MW, aligning with India’s national goal of reducing emissions by 30-35 per cent by 2030 and achieving net-zero emissions by 2070.
Chairman Ajay Kumar Bansal said the expansion would lead to significant power cost savings while demonstrating the company’s commitment to sustainable practices.
Hi-Tech Pipes operates six manufacturing facilities across India, located in Sikandrabad (UP), Sanand (Gujarat), Hindupur (AP), and Khopoli (Maharashtra). The company currently maintains an installed capacity of 750,000 MTPA and aims to reach 1 million tonnes capacity in FY25.
The steel processing company, with a presence in over 17 states through more than 450 dealers and distributors, manufactures various products including steel pipes, hollow sections, tubes, solar torque tubes, cold rolled coils, and road crash barriers.