"Sadhana Nitro Chem Ltd Plans 15-20 MW Green Hydrogen Facility; Board Approves Rs. 49.95 Cr Rights Issue"

In a transformative move towards sustainable energy practices, Sadhana Nitro Chem Ltd, a leading manufacturer specializing in intermediate specialty chemicals, has unveiled plans to venture into green energy for captive usage through the establishment of a green hydrogen facility. This initiative will be supported by a solar plant and wind farm with a combined capacity of 15MW-20MW. The company's board has granted approval for a rights issue, pending regulatory approvals, with the rights shares offered at Rs. 121 per share (a premium of Rs. 120), aiming to raise up to Rs. 49.95 Crores.

The primary allocation of funds from the rights issue is earmarked for the acquisition of a strategically significant 126-acre land plot. This expansive land will be instrumental in housing both a solar power facility and a wind energy installation. Harnessing the potential of these sustainable energy sources, the company aims to generate electricity for the production of green hydrogen via water electrolysis.

This foray into green energy not only provides Sadhana Nitro Chem Ltd with a crucial strategic advantage through backward integration but also positions the company to contribute to the broader green energy landscape. The surplus green hydrogen produced will be made available for sale to external parties, contributing to the growing market demand for clean and sustainable energy solutions.

Green hydrogen, produced through electrolysis powered by renewable energy sources, represents a significant shift towards eco-friendly practices, avoiding the carbon emissions associated with traditional hydrogen production methods. The use of solar and wind power ensures that the entire hydrogen production cycle remains sustainable and emission-free. Mr. Abhishek Javeri, Managing Director of Sadhana Nitro Chem Ltd, expressed enthusiasm about the company's strategic entry into the green energy sector, emphasizing the milestone achievement of establishing a cutting-edge green hydrogen facility with a capacity of 15MW-20MW. This initiative marks a significant step forward in the company's commitment to sustainability and innovation within the realm of intermediate specialty chemicals manufacturing.

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