Stove Kraft zooms 5 per cent; installs Indias first solar PV rooftop system

Stove Kraft estimates that this project will reduce its carbon footprint by 5,000 MT and also, help in reducing its dependency on non-renewable energy.

On August 10, 2021, Stove Kraft inaugurated India’s first solar PV rooftop system with higher efficiency mono PERC 535/540Wp PV module. The company has implemented this project in its Bengaluru factory, which has more than 4,50,000 sq. ft roof space and is spread across 16 acres. This is a giant step towards reducing carbon emissions and producing clean energy. 

Stove Kraft estimates that this project will reduce its carbon footprint by 5,000 MT and also, help in reducing its dependency on non-renewable energy. The company is expecting power generation of 50 lakh units in a year. As this will be a captive unit, the cost of power will reduce significantly. 

Stove kraft has installed a one-of-its-kind high-efficiency mono PERC module with 535 Wp/540Wp from JA solar & inverters from Solis. Stove Kraft has partnered with Integrum Energy, new age project management & EPC startup, for building its renewal assets. 

While inaugurating this project, MD of Stove Kraft, Rajendra Gandhi said, “We believe in sustainability as a key driver of growth. Futuristic businesses across the globe have started a movement towards renewable energy. Our solar rooftop project is one such initiative. Eventually, we envisage, we will be able to commission renewable energy assets to generate 80 per cent of our annual requirement.” 

Stove Kraft Ltd was incorporated in 1999 by Rajendra Gandhi. It manufactures a wide range of kitchen solutions under Pigeon (value), Gilma (semi-premium) brands and acts as an exclusive partner for kitchen appliances of the BLACK+DECKER (premium) brand. The products comprise cookware & cooking appliances, while the home solutions consist of various household utilities, including the recently introduced LED bulbs, oxymeters, etc. 

Stove Kraft’s share price rallied 5 per cent and touched a high of Rs 809 during the early market hours on August 12, 2021 (Thursday).