On August 10, 2021, Stovekraft Ltd. has made a giant leap towards producing clean energy and reducing carbon emissions. The company inaugurated India’s first rooftop solar photovoltaic system with a higher efficiency PERC 535 / 540Wp mono photovoltaic module. The company implemented this project at its facility in Bangalore, which spans 16 acres and has more than 450,000 square feet of roof space.
Mr. Rajendra Gandhi, MD, Stovekraft Ltd., initiated this project. At the inauguration, he said, “We believe in sustainability as a key driver of growth. Futuristic companies around the world have started a movement towards renewable energy. Our solar roof project is one such initiative. Ultimately, we envision, we will be able to commission renewable energy assets to generate 80% of our annual needs. “
StoveKraft estimates that this project will reduce its carbon footprint by 5,000 MT and reduce the company’s dependence on non-renewable energy. Since this will be a captive unit, the cost of energy will be significantly reduced. It will also allow the company to capitalize the previously unused roof of the factory. The company expects electricity production of 50 lakh units in one year.
StoveKraft has partnered with Integrum Energy, the management of new age projects and the start-up of EPC, for the construction of its renewal assets. Stovekraft installed a unique high efficiency PERC mono module with 535Wp / 540Wp from JA Solar and inverters from Solis.
All over the world, companies are adopting environmentally friendly methods of generating and generating electricity. It is no longer an option – it is the need of the moment. If the recent floods in India, Nigeria, UK and Germany and fires in the US and Australia have proven anything, it is the fact that no one is immune to climate change and that it’s time to do something now.
The Indian government is actively promoting the use of solar energy. By fine-tuning energy policies and ensuring participation, the government is helping industries, offices and homes adapt to changing energy ethics. In addition, the accelerated depreciation of solar installations allows industrial users to depreciate their investments in a renewal plant at a higher rate compared to their fixed assets in order to reduce the tax payable.
A solar power system reduces the amount of heat reaching the roof by an incredible 30%, keeping the roof of a building five degrees cooler than parts of a roof in direct sunlight.
Stovekraft was one of the first to embrace environmentally friendly energy. In all of its offices, energy conservation is encouraged. By switching to LED lights, the organization has reduced electricity consumption and bills.
The benefits of solar power are numerous. From a business perspective, this makes business sense because it protects against increases in electricity costs. In addition to reducing carbon emissions, solar energy increases property value. With solar power, the business has the ability to consume free power, transfer the excess to the grid, and offset excess needs during other time slots in accordance with government policies. And with solar panels, the roof stays cleaner and cooler, further reducing energy consumption.
STOVE KRAFT LIMITED shares were last trading in BSE at Rs. 764 from the previous close of Rs. 772.65. The total number of shares traded during the day was 28,775 in more than 1,507 transactions.
The share hit an intraday high of Rs. 790.85 and an intraday low of 734.3. The net turnover during the day was Rs. 21,729,838.