Rama Steel Tubes has forayed into renewable energy space through its participation as a Joint Venture (JV) partner in a 225 MW solar power project under the Government of India’s ambitious PM-KUSUM scheme.
The project, structured under Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra. It has successfully signed Power Purchase Agreements (PPAs) with the Maharashtra State Electricity Distribution Company (MSEDCL) at a fixed tariff of Rs 3.10 per unit for a 25-year term.
The company’s participation ensures stable long-term returns from the green and renewable energy sector. With its 10% stake in the SPV, the company will proportionally benefit from recurring income, adding a new dimension of sustainability-linked revenue to its business portfolio.
This move marks the company’s entry into the fast-growing renewable energy sector, reinforcing its commitment to Environmental, Social and Governance (ESG) goals, and creating long-term value for shareholders.
Rama Steel Tubes is a leading player engaged in the manufacturing and trading of Steel Tubes & Pipes and Rigid PVC (Poly Vinyl Chloride) & G.I. (Galvanised Iron) Pipes in India as well as in the world.
