Tata Power Renewable Energy signs PDA valuing Rs 105 crore with Tata Communications to set up 18.75 MW AC group captive solar plant
Kolkata: Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a power delivery agreement with Tata Communications for an 18.75 MW AC group captive solar power plant.
The project will be implemented through a special purpose vehicle (SPV) — Nivade Windfarm Limited — has acquired an estimated order value of Rs 105 crore.
Located in Aachegaon, Maharashtra, the plant is projected to generate approximately 40 MUs of power while offsetting more than 30,000 tonnes of CO2 emissions annually.
Commenting on the partnership, Tata Power Renewable Energy CEO & MD Deepesh Nanda said, “Our customised green energy solutions such as Group Captive Solar will not only reduce operating costs but also increase energy efficiency, thus paving the way for a sustainable and future-ready sector.”
Tata Communications Vice President- Corporate Services Manoj Tripathy said, “We are delighted to announce Tata Communications' unwavering dedication to sustainability as a leading global commtech player…This initiative sets a formidable example for the transition towards a greener future. It is a resolute pledge towards fostering a cleaner, more sustainable path for the future of commtech.”
Tata Power Renewable Energy is strategically emphasizing on group captive projects to actively contribute to India's ambitious target of achieving net-zero carbon emissions by 2070, while also addressing the distinctive renewable energy requirements of clients across various sectors, the company said in a statement.
“In recent months, the company has achieved a significant milestone by surpassing a capacity of over 1.5 gigawatts (GW) in group captive projects.
"This accomplishment is attributed to the successful execution of Power Purchase Agreements (PPAs) that span a diverse range of industries, including steel, polystyrene, mining, iron casting, manufacturing, hospitality, automotive, among others,” read the statement.
With the addition, the total renewables capacity of TPREL reached 9,015 MW (PPA capacity is 7,629 MW), including 4,744 MW of projects in different phases of development.
The company has an operating capacity of 4,271 MW, including 3,244 MW in solar projects and 1,027 MW in wind projects.
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