Latest news with #PradhanMantriKisanUrjaSurakshaEvamUtthaanMahabhiyan
Business Standard
3 days ago
- Business
- Business Standard
Rama Steel soars after investment in 225 MW PM-KUSUM solar project
Rama Steel Tubes (RSTL) soared 14.19% to Rs 13.36 after the company announced a strategic investment in the renewable energy sector through a 10% equity stake in a 225 MW solar power project under the Government of India's PM-KUSUM scheme. The project, developed by Onix IPP, a Special Purpose Vehicle (SPV), is spread across multiple locations in Maharashtra and has signed power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company (MSEDCL). These PPAs guarantee a fixed tariff of Rs 3.10 per unit for 25 years, ensuring stable and predictable revenue streams. Financially, the project is estimated to generate gross annual revenue of Rs 108.11 crore, with Rama Steel's share amounting to approximately Rs 10.81 crore per year. Over the 25-year PPA term, the company expects total revenues of around Rs 270.28 crore from this investment. This initiative aligns with the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan) scheme, which aims to promote solar energy generation on barren and government-owned lands, fostering rural development, energy infrastructure, and local economic empowerment. Richi Bansal, whole time director & chief executive officer, Rama Steel Tubes, said, "Our investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversifies our revenue base." Rama Steel Tubes has been a pioneer in India's steel tube manufacturing sector, offering a wide range of products including pre-galvanized, structural, and hollow sections. On a consolidated basis, the company's net profit declined 4.07% to Rs 6.84 crore while net sales rose 9.29% to Rs 293.20 crore in Q4 March 2025 over Q4 March 2024.
Time of India
05-05-2025
- Business
- Time of India
8 villages tap solar power, help Bescom meet summer surge
1 2 Bengaluru: Halkurike, a little-known hamlet in Tiptur taluk of Tumakuru district, helps Bangalore Electricity Supply Company (Bescom) manage peak demand every day. It is among nine villages in districts around Bengaluru which have not only reduced the burden on Bescom 's grid by running IP sets on solar power but also feed about 68Mw to the grid daily from their own plants commissioned under the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM Kusum-C) project. Surrounded by paddy fields, arecanut and coconut plantations, these villages in Chikkaballapur, Chitradurga, Tumakuru and Davanagere districts used to consume a lot of power to operate IP sets. Now, these IP sets run on solar power generated locally. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Bescom provides four hours of three-phase power during the day and three hours at night in a phased manner to help farmers irrigate their fields. "But the demand from residential and commercial consumers in and around Bengaluru shoots up during summer making it a challenge to manage both demands and ensure no blackout on either side," said an engineer from Bescom. N Shivashankara, managing director, Bescom, said: "Now, power from these plants is fed to nearby substations, ensuring quality power to farmers during the day. This reduces the burden on the grid as the demand is met locally." The state govt has chosen multiple agencies to execute the project across Karnataka. "They set up and operate solar plants for a 25-year duration. The govt only identifies land. The agencies take this land on lease for a minimum of Rs 25,000 per acre per year. "While it costs Rs 3.5 crore to Rs 4 crore to generate one megawatt of power, the agencies get a subsidy of slightly over Rs 1 crore from the central govt. We buy power from them at Rs 2.9 to Rs 3.1 per unit," an engineer said. Gaurav Gupta, additional chief secretary (energy), said 150-plus locations have been chosen for the Kusum-C project in Bescom limits alone. "In the first phase, 96 locations have been indentified, and the remaining 54 will be executed during the second phase. Work began on 50-60 stations and eight of them are already operational." Mission to save 2,400Mw daily Spread over 20 acres, the Rs 4 crore solar plant at Halkurike Revana Siddeshwara Betta has 8,020 solar panels each of 550w. Together they generate about 4Mw of energy daily. "The plants get sunlight for about eight hours a day, generating 8,000 units (9.6 lakh units a month)," said Manohar TL, assistant executive engineer, Bescom at Tiptur. As many as 2,531 IP sets of different power capacities within a radius of 8-10km are linked to Halkurike feeder, which collectively consume about 30 lakh units per month. "Of these 30 lakh units, 10 lakh units are drawn directly from the local solar plant. This is a major relief as it takes off nearly half the load on the grid. Saved power can be supplied to other consumers," Manohar said. Bescom hopes to save 2,400Mw daily when all its planned 150 Kusum-C stations are operational. Energy minister KJ George said: "Our objective is to generate 3,000Mw under the Kusum-C scheme over the next 18 months. By this monsoon, we intend to add at least 300Mw of solar power to the grid through these plants. We have been appealing to MLAs to help us identify land within their constituencies for speedy implementation of the project."
Time of India
23-04-2025
- Business
- Time of India
State to initiate talks with Centre to implement KUSUM-A scheme: Min
Chikkamagaluru: Energy Minister KJ George said that the state govt is planning to initiate talks with Union govt to implement the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan scheme (KUSUM-A). The scheme is designed to promote local generation and consumption of solar power, particularly among farmers and rural communities. George disclosed this during the inauguration of the Amrit Mahotsava programme at the TAPCMS in Kadur. He mentioned that the KUSUM-B scheme (solar-powered agricultural pumpsets) and the KUSUM-C scheme (solarisation of agricultural feeders) are being implemented in the state. In addition, there are plans to introduce the KUSUM-A scheme as well. He stated that the KUSUM-A scheme allows farmers, farmer groups, cooperative societies, panchayats, farmer producer organisations, and water user associations to set up solar power plants with capacities ranging from 500 kilowatts to a maximum of two megawatts, located within 5 kms of electricity substations. They can use the electricity generated, and the govt will purchase any surplus. This initiative will help address power shortages and provide farmers with additional income. Discussions will be held with Union ministers to implement the KUSUM-A scheme, he said. "The KUSUM-B scheme, which offers solar pumpsets to farmers through subsidies, is already in progress. Farmers are required to drill a borewell and, if water is found, apply online. After verification, the scheme will be rolled out, and 12 contractors have been selected for this task. The contractors will install the borewell's motor, panel, and pipes. Farmers will bear 20% of the total cost, while the state govt will contribute 50%. The central govt will cover the remaining amount. The central govt approved the installation of 40,000 pumpsets by the end of December," George added. "To promote power generation, plans are under way to set up an additional solar park on 10,000 acres, complementing the existing 2,050-megawatt solar park in Pavagada. With this expansion, Pavagada Solar Park will once again become the largest solar park in the world," the energy minister said. "It is essential to establish more farmers' markets (Raitha Bazaars) to ensure farmers receive fair prices for their produce. Given the high demand for organic products in international markets, farmers should focus on cultivating these crops. Govt will fully support this initiative," George added. Kadur MLA KS Anand chaired the event. Bhadra-CADA chairman KP Amshumanth, municipal council president Bhandari Srinivas, and other municipal members were present.
