JULY 20248GODREJ INDUSTRIES TO BUY UNIT OF SHREE VALLABH CHEMICALSDVC TO FUNNEL RS 20,000 CR IN SOLAR ENERGY PROJECTS BY 2030Godrej Industries said that its chemicals business unit has agreed to acquire a plant of Shree Vallabh Chemicals in Kheda, Gujarat, for an estimated Rs 45 crore. Godrej Industries said in a regulatory filing that its chemicals business has inked a business transfer agreement with Shree Vallabh Chemicals Unit II (Kheda) with the goal of acquiring their Ethoxylation unit II.This deal will allow the company to broaden its product offerings by adding Ethoxylation technology to its portfolio of process and batch technologies, it stated. The Shree Vallabh Ethoxylation Unit II can produce 24,000 MTPA (million tonnes per annum) of final products, according to the application.Godrej Industries projected that the amount to be invested would be roughly Rs 45 crore. The proposed acquisition of the unit will allow us to expand our products while also catering to new applications for our customers. We are certain that by allowing us to accelerate the investment timetable, we would be able to achieve different cost savings," stated Vishal Sharma, Executive Director and CEO of Godrej Industries (Chemicals).Godrej Industries is the holding firm for the Godrej Group. They have large investments in consumer products, real estate, agriculture, chemicals, and financial services through our subsidiaries and associate companies in 18 countries. Damodar Valley Corporation (DVC) stated on Friday that it intends to invest Rs 20,000 crore by 2030 to develop approximately 4,000 MW of solar capacity, according to a senior official. The company, established for flood management and development in the Damodar Valley, plans to invest between Rs 50,000 and 60,000 crore by 2030 to improve thermal, pump storage power plants, and solar energy, he said.It plans to build roughly 10,000 MW in thermal and green energy, bringing its total installed capacity to approximately 16,700 MW. DVC's current installed capacity of 6,700 MW includes 6,540 MW of thermal power."Power demand is growing strong in the north, south, and western parts of the country. We are expanding sustainably with the right mix of thermal and renewable energy, which will keep power costs affordable. We will add 3,720 MW in thermal capacity and nearly 4,000 MW in solar by 2030," DVC Chairman S. Suresh Kumar said during an interaction on the occasion of the 77th Foundation Day of the corporation.The organization, located in Kolkata, today has only 14 MW of installed solar capacity and is working on a 348 MW project with NTPC. A battery storage capacity of 250MW/hour is also being considered, he said.Kumar stated that DVC has been exempted from coal imports due to its power stations' closeness to the pithead.The Union Power Ministry has extended a coal import advice to domestic thermal plants for 4 percent blending until October 15, ensuring adequate fuel supply throughout the monsoon season. TOP STORIES
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