Precision Camshafts Limited has informed the Exchange about the 14 MWp Captive Solar Power Plant installed at Mangalwedha, Solapur, has commenced its operations. This commissioning is in continuation of, and forms part of, the expansion of the Company s existing 15 MWp captive solar power facility at the same location, thereby increasing the aggregate installed capacity to 29 MWp.
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Precision Camshafts has started operations at a new 14 MWp captive solar power plant at Mangalwedha, Solapur. This is an expansion of the company's existing 15 MWp solar facility at the same location, taking the total captive solar capacity to 29 MWp. The plant is for captive (internal) use, meaning the power generated will be consumed by the company's operations. This move is part of the company's broader sustainability and cost-reduction strategy. No financial details on capex or cost savings were disclosed in this filing.
Positive for shareholders in the long run — the additional captive solar capacity should lower the company's electricity costs and reduce dependence on grid power, while also strengthening its ESG profile. However, this is a back-end cost-saving measure and is unlikely to have any immediate impact on the stock price.