Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Rama Steel Tubes Enters Renewable Sector with 225 MW Solar JV under PM-KUSUM

Rama Steel Tubes (RSTL), a New Delhi-based steel tubes and pipes manufacturer, has made its debut in the renewable energy sector through a joint venture in a 225 MW solar project under the PM-KUSUM scheme. The project is being developed by Onix Renewable’s SPV, Onix IPP, which has secured power purchase agreements with Maharashtra State Electricity Distribution Company at Rs3.04/kWh for 25 years.

The project is expected to generate annual gross revenue of Rs108 crore over its lifespan. This solar initiative is part of a larger 1,959 MW development across 252 locations in Maharashtra by Onix Renewable. Other major participants include NOPL Pace Green Energy and NOPL Solar Projects, who collectively secured over 1.9 GW capacity.

Rama Steel Tubes views this investment as a step toward sustainable diversification, offering recurring income and aiding in achieving its ESG objectives. This move aligns with India’s broader renewable goals under PM-KUSUM, which has already seen over 540,000 standalone solar pumps installed—42% of the national target.

Notably, Onix Renewable also won a 100 MW capacity in NHPC’s January auction for 1,200 MW solar-plus-storage projects, reflecting its growing presence in India’s clean energy landscape.