{"id":39508,"date":"2025-02-18T11:35:47","date_gmt":"2025-02-18T06:05:47","guid":{"rendered":"https:\/\/bizzsight.com\/index.php\/2025\/02\/18\/banganga-paper-mills-strengthens-commitment-to-renewable-energy\/"},"modified":"2025-02-18T11:35:47","modified_gmt":"2025-02-18T06:05:47","slug":"banganga-paper-mills-strengthens-commitment-to-renewable-energy","status":"publish","type":"post","link":"https:\/\/bizzsight.com\/index.php\/2025\/02\/18\/banganga-paper-mills-strengthens-commitment-to-renewable-energy\/","title":{"rendered":"Banganga Paper Mills Strengthens Commitment to Renewable Energy"},"content":{"rendered":"
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Nashik<\/b> (Maharashtra) [India], February 18:<\/strong> <\/span>Banganga\u00a0Paper Industries Limited (BSE \u2013 512025), (Formerly known as Inertia steel Limited),\u00a0one of the\u00a0leading manufacturer and supplier of high-quality kraft paper, has taken a significant step toward sustainable energy adoption. Its wholly owned subsidiary,\u00a0Banganga\u00a0Paper Mills Limited, has entered into a\u00a0Power Purchase Agreement\u00a0(PPA)\u00a0with\u00a0Livint\u00a0Green Technologies Ltd.\u00a0for the procurement of solar power under a\u00a0captive power generation model.<\/p>\n

As per the agreement,\u00a0Livint\u00a0Green Technologies Ltd., will develop, own, and operate a 2.5 MW DC ground-mounted solar power plant at\u00a0Karjat\u00a0Village, Ahmednagar District, Maharashtra. This solar facility will supply clean energy to\u00a0Banganga\u00a0Paper Mills\u2019 manufacturing unit in Nashik, ensuring a reliable and cost-effective renewable energy source.<\/p>\n

To comply with captive power generation regulations,\u00a0Banganga\u00a0Paper Mills Limited will hold a 26% equity stake in the power-producing entity, while the remaining 74% will be retained by\u00a0Livint\u00a0Green Technologies Ltd. The project will be developed under a Build-Own-Operate model, ensuring long-term sustainability and operational efficiency.<\/p>\n

Additionally, under a Wheeling and Banking Agreement, any surplus electricity generated from the solar power plant will be banked with the state\u2019s power distribution company for later use. This strategic move will not only provide energy security but also enable\u00a0Banganga\u00a0Paper Mills to leverage carbon credits, reinforcing its environmental responsibility and commitment to green energy solutions.<\/p>\n

The PPA has a minimum lock-in period of 15 years, with provisions for extension upon mutual agreement, demonstrating a long-term commitment to renewable energy and sustainable business practices.<\/p>\n

By shifting to\u00a0solar energy, the company will benefit from\u00a0lower per-unit costs\u00a0compared to current grid tariffs. With the present\u00a0energy cost at\u00a0\u20b9\u00a010.85 per unit, this initiative will lead to\u00a0direct savings ofapproximately\u00a0\u20b9\u00a02.30 to\u00a0\u20b9\u00a02.50 per unit, as power is generated and distributed via the\u00a0open grid for internal consumption.\u00a0Additionally, the company is expected to receive a tentative\u00a0government subsidy of\u00a0around\u00a0\u20b91.50 per unit\u00a0on captive consumption, further enhancing cost efficiency.\u00a0Effective April 1, 2025,\u00a0the\u00a0company\u00a0will begin realizing\u00a0substantial energy cost savings\u00a0through this initiative.<\/p>\n

By transitioning to solar energy, Banganga Paper Mills will reduce its reliance on fossil-fuel-based grid power, significantly cutting carbon emissions and aligning with global sustainability goals. This move reinforces its commitment to eco-friendly manufacturing while ensuring cost-efficient energy management. By integrating renewable energy, the company sets a benchmark for the paper manufacturing sector, demonstrating leadership in sustainable business practices.<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Nashik (Maharashtra) [India], February 18: Banganga\u00a0Paper Industries Limited (BSE \u2013 512025), (Formerly known as Inertia steel Limited),\u00a0one of the\u00a0leading manufacturer and supplier of high-quality kraft paper, has taken a significant step toward sustainable energy adoption. Its wholly owned subsidiary,\u00a0Banganga\u00a0Paper Mills Limited, has entered into a\u00a0Power Purchase Agreement\u00a0(PPA)\u00a0with\u00a0Livint\u00a0Green Technologies Ltd.\u00a0for the procurement of solar power under […]<\/p>\n","protected":false},"author":4,"featured_media":39509,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[650,649],"class_list":["post-39508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-pr","tag-press-release"],"_links":{"self":[{"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/posts\/39508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/comments?post=39508"}],"version-history":[{"count":0,"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/posts\/39508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/media\/39509"}],"wp:attachment":[{"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/media?parent=39508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/categories?post=39508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzsight.com\/index.php\/wp-json\/wp\/v2\/tags?post=39508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}