Sadhana Nitro Chem, a key player in the realm of intermediate specialty chemicals, has greenlit a rights issue of up to INR 49.95 crore (approximately $6 million).
The objective is nothing short of revolutionary – the establishment of a 15-20 MW green hydrogen facility. This strategic initiative encompasses the acquisition of a vast 126-acre land plot dedicated to hosting solar and wind energy installations, laying the foundation for a future powered by renewable resources.
The primary goal of Sadhana Nitro Chem Ltd’s foray into the green hydrogen arena is to ensure a sustainable and eco-friendly energy supply for its operations. The rights issue will enable the acquisition of a substantial land parcel, crucial for hosting solar power facilities and wind energy installations. These renewable energy sources will, in turn, drive the process of water electrolysis to produce green hydrogen.
At the heart of this ambitious endeavor lies the adoption of cutting-edge technology. The company plans to leverage the potential of solar and wind energy through state-of-the-art installations on the designated land. The synergy between these renewable sources and water electrolysis will yield green hydrogen, positioning Sadhana Nitro Chem Ltd as a trailblazer in sustainable energy practices within the chemical manufacturing sector.
Sadhana Nitro Chem Ltd’s green energy expansion represents more than a commitment to environmental stewardship; it signifies strategic backward integration and control over its energy supply. By generating renewable electricity in-house, the company aims to meet its energy needs while potentially eliminating reliance on conventional energy sources. Furthermore, any surplus green hydrogen produced will not go to waste but will be made available for sale to external entities, contributing to the broader green energy ecosystem.