Bhubaneswar: Shyam Metalics and Energy Limited (SMEL), a leading integrated metal-producing company based in Kolkata, is setting up a 50 MW Captive Floating Solar Power Project in Odisha. With this initiative, Shyam Metalics aims to be the first metal-producing organization in the state of Odisha with a significantly reduced carbon footprints fulfilling their commitment towards the environment.

Shyam Metalics and Energy Limited is aligned with the developing state of Odisha and chooses to introduce itself as one of India’s top Iron and Steel Manufacturers in the country, through its flagship company, M/s. Shyam Metalics and Energy Ltd. (SMEL). The company’s integrated steel facility at Rengali, Sambalpur has a total steelmaking capacity of 3 MTPA, as well as a 158 MW power plant and a 3.0 MTPA pellet plant. The total investment in the factory to date is more than 3000 crores, and it employs over 10,000 people. The company’s Investment Board has now suggested to increase investment in the state of Odisha considering the government’s assistance. The company is also planning for an addition of 0.5GW Renewable Energy capacity by 2025 and increased tocombined capacity of 2GW in the subsequent 3-5 years.

Speaking on the project commissioning, Brij Bhushan Agarwal, Vice Chairman & Managing Director said, “In light of the changing environment and worldwide customer demands, we are committed to invest in environmental and socially responsible technologies and initiatives. Furthermore, we are deeply encouraged by the facilitating attitude and ease of doing business in the State of Odisha, hence the company has decided on further investment and has now earmarked INR 450 Crores to set up a Captive Green Energy Project with a Floating Solar Generation capacity of 50 MW (72 MWp dc) at Hirakud reservoir. We seek the Government of Odisha to allot 250 acres of land on the Hirakud reservoir in favourable conditions and with grid connectivity to build the whole 50 MW floating solar power plant. Furthermore, following our company’s CSR strategy, we have also requested to the State government to allow us to install solar lighting in Puri’s Jagannath temple.”