Mumbai, November 10, 2025: Manaksia Coated Metals & Industries Limited (NSE: MANAKCOAT, BSE: 539046), a leading manufacturer and exporter of coated steel products, has announced plans to establish a 7 MWp ground-mounted solar power project in Gujarat under the Open Access mechanism in partnership with Prozeal Green Energy Limited, one of India’s top renewable energy EPC and IPP firms.
Project details
The captive solar power plant, using Mono Bifacial N-Type TOPCon modules and a Single Axis Tracker system, is targeted for commissioning by Q1 FY27. Once operational, it will offset 50–55% of the company’s grid power dependency and reduce power costs by up to 50%.
- Capacity: 7 MWp captive solar power project
- Annual generation: ~13.3 million units of renewable electricity
- Carbon offset: ~9,000 tons of CO₂ annually (equivalent to planting over 400,000 trees)
- Objective: Strengthen energy self-reliance, enhance cost efficiency, and support ESG goals
Strategic significance
According to Karan Agrawal, Whole-Time Director of Manaksia Coated Metals, the project “underscores our commitment to responsible growth and environmental stewardship. By replacing up to 55% of our current grid power with renewable energy, we aim for long-term stability, cost efficiency, and a reduced carbon footprint.”
He added that the use of advanced solar tracking and bifacial technologies will ensure higher generation efficiency and consistent power output, aligning with India’s renewable energy goals.
Partnership with Prozeal Green Energy
Manan Thakkar, Co-Founder and Managing Director of Prozeal Green Energy, said, “This collaboration exemplifies how industrial consumers can leverage the Open Access model to achieve both sustainability and economic efficiency.”
About Manaksia Coated Metals & Industries
The company manufactures Pre-painted and Plain Galvanised Steel in coil and sheet form, catering to the construction, automotive, appliances, and general engineering industries. Its facility in Kutch, Gujarat, strategically located near Kandla and Mundra ports, enhances export and logistics efficiency.
Disclaimer
Certain statements in this release are forward-looking and subject to risks and uncertainties. Actual results may differ due to regulatory, operational, or market conditions. This announcement is for informational purposes only and not an investment solicitation.
