With an investment of Rs 4 crore, the 1MW floating solar plant is expected to meet 5 per cent of Matix’s energy needs.
Matix Fertilisers and Chemicals announced that company has commissioned a 1 MW floating solar power plant at its Panagarh facility in West Bengal with an investment of Rs 4 crore. The funding for the project was through internal accruals, the company added.
Located within Matix’s premises, this investment represents a significant move towards energy efficiency and environmental responsibility. Solar power is a key priority in Prime Minister Narendra Modi’s energy strategy for India which aims to reduce carbon emissions and transitioning to renewable energy. This 1MW floating solar plant, expected to meet 5 per cent of Matix’s energy needs, is Phase 1 of a gradual transition that is meant to be implemented over the next few years. It will not only help in reducing Matix’s carbon footprint but also will additionally minimise evaporation from the water body thus aiding water conservation. Water is a crucial input for the plant’s steam production processes which in turn powers it’s turbines for power generation. This dual-purpose solution highlights how innovative technology can address both energy and resource challenges.
“This floating solar plant is another step in our continued commitment to integrating sustainability into our operations. We have already taken big strides in water conservation, greening and energy efficiency. By leveraging renewable energy, we aim not only to reduce our carbon footprint but also contribute meaningfully to Bharat’s environmental goals,” Matix Fertilisers and Chemicals Chairman Nishant Kanodia said in a statement.
