Sadhana Nitro Chem is planning to foray into land green energy for captive usage (self-consumption). The company will set up a green hydrogen facility, based on a solar plant and wind farm with a capacity of 15MW-20MW. The board approved a rights issue, subject to necessary approvals from regulatory authorities. The rights shares are being offered at Rs 121 per share (a premium of Rs 120), and the company will look to raise up to a total of Rs 49.95 crore.
The funds of the rights issue to be predominantly used for acquisition of a 126-acre land plot. This land will be strategically employed for the establishment of both a solar power facility and a wind energy installation. These sustainable energy sources will be harnessed to generate electricity, which, in turn, will be utilised for the production of green hydrogen via water electrolysis.
This green energy expansion offers the company strategic advantage of backward integration, with control over its energy supply. Further, any surplus green hydrogen produced will be made available for sale to external parties.
Green hydrogen refers to hydrogen produced through a process that uses renewable energy sources, such as wind, solar, or hydroelectric power, to power the electrolysis of water. The electrolysis process involves splitting water molecules (H20) into hydrogen (H2) and oxygen (O2), without generating carbon emissions. This method contrasts with traditional hydrogen production, such as steam methane reforming, which relies on fossil fuels and generates greenhouse gas emissions. By utilizing solar and wind power, the entire hydrogen production cycle becomes sustainable and emission-free. Green hydrogen holds immense promise as a clean, sustainable energy carrier.
Sadhana Nitro Chem (SNCL)is engaged in the manufacture and marketing of Nitrobenzene and its downstream derivatives and intermediates (for various applications in Pharma, Agro, Dyes, Plastic Additives & Epoxy resin hardeners.
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