Steel pipes maker Hi-Tech Pipes announced on Wednesday its goal to achieve 13.5 MW of renewable energy capacity for captive usage by December 2024. Currently, the company has an installed solar power capacity of 8.5 MW and is working on installing an additional 5 MW in phases, according to a regulatory filing.

"With all the above steps, the company's green power sourcing will be around 13.50 MW, which will contribute around 30 per cent of the total power requirement of the company," the filing stated.

Additionally, Hi-Tech Pipes revealed it has signed an MoU with a leading renewable energy supplier to generate and use green hydrogen for captive purposes. The supplier will leverage its strong EPC credentials and extensive R&D capabilities in various aspects of green hydrogen, ensuring the project's timely execution.