Banganga Paper Industries Embraces Solar Power for Sustainable Growth

Banganga Paper Industries Limited has partnered with Livint Green Technologies to establish a solar power plant, ensuring eco-friendly energy for its manufacturing unit. This initiative will lower costs and emissions, aligning with global sustainability goals while benefiting from governmental subsidies and carbon credits.

In a progressive shift towards sustainable energy, Banganga Paper Industries Limited, a prominent manufacturer of high-quality kraft paper, has entered into a strategic partnership with Livint Green Technologies Ltd. Under a Power Purchase Agreement (PPA), the collaboration will foster the development of a solar power facility in Maharashtra.

The agreement entails Livint Green Technologies Ltd. overseeing the creation, ownership, and operation of a 2.5 MW DC ground-mounted solar power plant situated in Karjat Village, Ahmednagar District. This initiative will supply renewable energy to Banganga's Nashik manufacturing unit, with the paper mill acquiring a 26% equity stake to adhere to captive generation regulations, and Livint Green Technologies holding the remaining share.

The forward-thinking project involves a Wheeling and Banking Agreement to manage surplus energy, underscoring the company's commitment to reducing carbon footprints. This initiative promises substantial cost savings, with energy costs expected to be reduced significantly, supplemented by government subsidies. Set to commence on April 1, 2025, Banganga will achieve cost efficiency and reinforce its commitment to environmentally-conscious practices.

(With inputs from agencies.)