Synergy Steels applauds India’s renewable energy growth, nearing 200 GW capacity, driven by robust policies and technological advancements. The company emphasizes stainless steel’s critical role in clean energy infrastructure and its commitment to decarbonizing steel production for a sustainable future.
India is making remarkable strides in renewable energy, with the sector nearing an installed capacity of 200 GW. According to the Central Electricity Authority’s (CEA) August 2024 report, non-fossil renewable power capacity stands at 199.58 GW, with renewable energy sources such as small hydro, bioenergy, solar, and wind contributing 152.6 GW. This positions India as the world’s fourth-largest renewable energy powerhouse.
Subhash Chand Kathuria, Managing Director of Synergy Steels, highlighted the sector’s impressive growth, noting, “India’s renewable energy capacity has increased by 165% over the past decade. This surge is propelled by the government’s progressive policies, technological innovations, and ambitious goals. As we reach the 200 GW milestone, India is poised to achieve its 2030 target of 500 GW renewable capacity through a diversified energy mix, including solar, hydrogen, biogas, and wind.”
He further emphasized the critical role of stainless steel in renewable energy infrastructure. Its heat and corrosion resistance, low maintenance, and recyclability make it ideal for equipment like pumps, pipes, and tanks. Additionally, renewable energy adoption supports decarbonizing stainless-steel production by enabling technologies such as Electric Arc Furnaces (EAF) powered by clean energy sources.
Anubhav Kathuria, Director of Synergy Steels, remarked on renewable energy’s transformative impact on economic growth and manufacturing. “Transitioning to clean energy ensures grid stability and resilience. For example, solar module manufacturing, backed by government initiatives like the PLI scheme, drives stainless-steel demand in solar panels and electric vehicles. Each megawatt of solar power generation requires 35 to 45 tons of steel, increasingly replaced by stainless steel for enhanced performance.”
The Union Budget 2024-25 underscored the government’s commitment to renewables, allocating INR 10,000 Cr for grid solar power—a 110% increase from the previous year. Additionally, initiatives like PM-Surya Ghar Muft Bijli Yojana with an INR 75,000 Cr outlay reflect a robust policy ecosystem.
Synergy Steels, a leader in long stainless-steel products, is committed to decarbonizing its operations while supporting India’s renewable energy goals. With state-of-the-art facilities and a capacity exceeding 250,000 tonnes, the company caters to sectors like construction, infrastructure, and energy. Certified with ISO 9001:2015, Synergy Steels champions sustainable practices and ESG principles, reinforcing its role as a partner in building a sustainable energy future.
