Shree Ajit plans 17 MW captive solar across two units

Shree Ajit Pulp and Paper Limited plans 17 megawatts (MW) of captive solar power capacity for two manufacturing units in Valsad district, Gujarat. Shree Ajit has allocated 10 MW to Unit I and 7 MW to Unit II, with the combined project estimated to cost Rs 62 crore and intended to reduce production electricity expenses.

What solar capacity is Shree Ajit installing?

Shree Ajit is planning 17 MW of solar capacity, comprising a 10 MW plant for Unit I and a 7 MW plant for Unit II. The company disclosed the two projects in a 14 August 2026 filing to BSE Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Unit I will receive 3 MW more capacity than Unit II under the announced allocation. The 10 MW Unit I project represents the larger part of the 17 MW total, while the 7 MW Unit II project is the smaller installation; the filing does not give unit-level electricity demand or explain the difference in allocation.

Shree Ajit describes the installations as a captive investment in solar infrastructure. The stated mechanism is to use solar power in connection with manufacturing production and offset electricity expenses incurred in that process, rather than to present the 17 MW capacity as a third-party power-sales project.

Where will Shree Ajit's solar plants be located?

Shree Ajit says the 10 MW and 7 MW projects will be situated in Gujarat for its manufacturing units in Valsad district. The filing subject identifies Unit I and Unit II at District Valsad, and the body of the announcement refers to the company’s manufacturing unit in Vapi as having embarked on the captive solar investment.

Unit I is listed at Survey No. 239, Village Salvav, near Morai Railway Crossing, Via-Vapi, Dist. Valsad, Gujarat, with postal code 396191. The company’s registered office is also recorded at Survey No. 239 near Morai Crossing, Village Salvav, Via-Vapi, using the same 396191 postal code.

Unit II is listed at Plot No. 1 and Plot No. 1/B, Phase I, Gujarat Industrial Development Corporation (GIDC), Vapi, Dist. Valsad, Gujarat, with postal code 396195. The 7 MW project is assigned to Unit II at this Vapi address, compared with 10 MW for Unit I in the Salvav area.

The 14 August 2026 notice does not disclose a separate solar-site address, land requirement, equipment supplier, solar technology or expected annual generation for either the 10 MW or 7 MW plant. It therefore identifies the operating units connected to the captive investment without setting out physical specifications for the planned facilities.

How much will Shree Ajit's solar project cost and how will it be funded?

Shree Ajit estimates the combined 17 MW project will cost Rs 62 crore. That amount covers both the 10 MW Unit I plant and the 7 MW Unit II plant, but the announcement does not allocate the Rs 62 crore estimate between the two units.

Shree Ajit also says it is availing a term-loan facility for the project. The readable disclosure does not state the loan amount, lender, interest rate, repayment period or the proportion of the Rs 62 crore project cost that will be funded through the facility.

The filing provides no separate capital-spending categories for the Rs 62 crore estimate, such as land, solar modules, grid equipment or construction. It also does not disclose expected annual electricity savings, a payback period, an expected earnings effect or a post-installation production-cost target for the 17 MW investment.

When will Shree Ajit complete the two plants?

Shree Ajit says it expects Unit I to be completed by the end of this financial year and Unit II in the next financial year. The 14 August 2026 filing does not provide exact commissioning dates or specify the financial-year labels associated with those two milestones.

The stated sequence puts the 10 MW Unit I installation ahead of the 7 MW Unit II installation. As a result, the larger of the two planned projects is scheduled for completion first, followed in the subsequent financial year by the smaller Unit II plant.

The timetable is an announced completion plan, not confirmation that either the 10 MW or 7 MW facility has begun generation. Shree Ajit has not disclosed construction-start dates, equipment-order milestones, grid approvals, testing stages or commercial-operation dates for the two projects.

Shree Ajit says it will update the market on solar-plant performance through periodic disclosures in compliance with regulatory requirements. The company also says material developments regarding operations, production or financial impact will be promptly communicated to the stock exchange, although it gives no reporting frequency or numerical performance measure.

Why is Shree Ajit investing in captive solar power?

Shree Ajit says the 17 MW captive solar investment is intended to mitigate and reduce electricity costs incurred during the production process. In its 14 August 2026 announcement, the company also describes the 10 MW and 7 MW projects as part of its move towards sustainable energy and clean-energy practices in Gujarat.

The disclosure specifies a cost-reduction mechanism through captive solar infrastructure tied to the company’s manufacturing activity. However, Shree Ajit does not quantify its existing electricity expenditure, the share of electricity consumption that 17 MW could serve, the expected cost of solar power or the expected reduction in manufacturing costs.

The allocation also creates a disclosed difference between the two units: Unit I receives 10 MW and Unit II receives 7 MW. Shree Ajit does not say whether that 3 MW difference reflects electricity usage, space availability, construction sequencing or another operating consideration.

The announcement therefore sets out the project’s capacity, estimated Rs 62 crore cost and intended reduction of production electricity expenses, but not a quantified financial outcome. Any assessment of savings, generation or return from the 17 MW capacity will depend on the performance information Shree Ajit says it intends to disclose periodically.

Conclusion

Shree Ajit has announced a defined captive-solar project for its two Valsad manufacturing units, assigning 10 MW to Unit I and 7 MW to Unit II. The Rs 62 crore plan links solar generation to lower production electricity expenses, while leaving expected output, savings, unit-level costs and financing terms undisclosed.

The next disclosed milestones are completion of Unit I by the end of this financial year and completion of Unit II in the next financial year. Shree Ajit has said it will make periodic performance disclosures and promptly report material developments concerning the plants’ operations, production or financial impact.