Rhetan TMT Secures Land Lease for New Solar Project.

Steel manufacturing firm Rhetan TMT has announced plans to relocate its proposed 2 MW solar power plant to Banaskantha, Gujarat, following challenges with lessors at the original site in Aravalli. The company has signed a new lease deed for the Banaskantha site, where the solar project will now be established.

The plant, intended for captive power consumption at Rhetan TMT’s steel facility in Kadi, Gujarat, is progressing with key approvals. The company has already secured provisional approval from the Gujarat Energy Development Agency (GEDA) and has submitted an application for connectivity approval with Gujarat Energy Transmission Corporation (GETCO), which is expected by mid-January 2025.

Installation of the solar plant is underway, with full-scale implementation targeted for completion by April-May 2025. The project aligns with Rhetan TMT’s strategy to reduce energy costs and enhance sustainability. The company expects to leverage the benefits of lower energy costs by mid-2025.

Despite initial delays at the previous location, the new site ensures adherence to project timelines. The solar plant is part of Rhetan TMT’s broader expansion efforts funded through its IPO, which also facilitated a capacity increase at the Kadi plant from 30,000 tonnes to 45,000 tonnes annually.

With four decades of expertise, Rhetan TMT operates a fully mechanized rolling mill with a daily capacity of 100-120 tonnes, reinforcing its position as a key player in the steel manufacturing industry.

HBL