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Dev Labtech Venture Limited seeked approval for a 1300 KV solar power project in the Gujarat Energy Development Agency (GEDA). The company specialises in lab-grown diamonds, also known as synthetic diamonds, and seeks to enhance its production of Chemical Vapour Deposition (CVD) diamonds by harnessing the advantages of solar energy.
The company reported that lab-grown diamonds replicate the chemical and physical properties of naturally occurring diamonds but are artificially manufactured in laboratories. The proposed solar power project aims to revolutionise the energy-intensive process of growing CVD diamonds, offering benefits to both production efficiency and environmental sustainability.
The company also informed that, by integrating solar power, the company can tap into a sustainable and cost-effective energy source, reducing dependency on conventional energy and mitigating the impact of fluctuating energy prices on production costs.
The MD of the company said, “It is the best way to cut the cost of power. We will be using the power for internal purposes only. By utilising this power, we will be cutting the cost and it will be beneficial to our company in saving the cost of power.”
The shares are trading flat at ₹93.95 at 11:47 am on the BSE.
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