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Home » CleanTech/ Renewable Energy » Monnet Ispat and Energy to enter renewables- targets 300 mw over the next three years through wind and hydel power

Monnet Ispat and Energy to enter renewables- targets 300 mw over the next three years through wind and hydel power

Monnet Group is an industrial group that is the second largest coal-based Sponge Iron manufacturer with thriving facilities in Raipur and Raigarh in the State of Chattisgarh. The company has a combined capacity of 860,000 TPA of Sponge Iron,  300,000 TPA of Steel, 60,000 TPA of Ferro Alloys and Power generation facility of 150MW besides running the largest underground coal mine in the country.

According to reports, Monnet Ispat and Energy has earmarked about Rs 500 crore for acquisition of overseas mines this year for its power and metals businesses. The company also plans to invest up to Rs 5,000 crore on power projects and Rs 3,000 crore on steel units over the next 2-3 years, managing director Sandeep Jajodia said.

Monnet is also looking at entering the renewable energy sector by adding about 300 mw over the next three years through wind and hydel power-based generation.

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