Tata Power Renewable Energy Limited (TPREL), a leading renewable energy company of India, a subsidiary of The Tata Power Company Limited signed Power Delivery Agreement (PDA) with Neosym Industry Limited (Neosym), a leading Gray & S.G. Iron casting, manufacturing company in India, for 26 MW AC Group Captive Solar plant.
The project, located at Jamkhed, Ahmednagar in Maharashtra with an anticipated electricity generation capacity of 59 million units annually will start from March 2024.The plant is expected to reduce 32,500 tonnes of CO2 emissions annually. This substantial reduction in greenhouse gas emissions aligns with India's commitment to combat climate change and underscores TPREL and Neosym's joint commitment to environmental stewardship.
Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, 'This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I consumers. The Jamkhed project is a step towards enhancing renewable energy capacity and reducing carbon emissions in the country.
Mr. Vinay Mohta GM Commercial, Neosym Industry Ltd, stated, 'Our partnership with Tata Power Renewable Energy Limited indicates a ground-breaking association in our unwavering journey towards clean and sustainable energy solutions. Our project serves as an authentication of our dedication to diminish our carbon footprint and actively contribute to India's green energy revolution.'
The Government is actively promoting group captive solar projects as part of its strategy to boost renewable energy adoption. Emphasizing Group Captive projects, require limited investment and pose less risk. Incentives, subsidies, and mandates like Renewable Purchase Obligations (RPOs) encourage businesses and communities to invest more in the sustainable energy.
TPREL is supporting several C&I consumers across the industrial spectrum viz Steel, Automotive, Polymer, Hospitality, Retail, Realty, et al to harness the power of renewable energy for sustainable operations.
The total renewables capacity of TPREL stands at 7,821 MW including 3,689 MW projects under various stages of implementation. The company's operational capacity is 4,132 MW, which includes 3,139 MW solar and 993 MW wind.
About Tata Power Renewable Energy Ltd:
Tata Power Renewable Energy Limited ('TPREL') is a subsidiary of The Tata Power Company Limited and is one of the country's most significant renewable energy players. TPREL is a developer of renewable energy projects (including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage) that it owns, operates, and maintains. It also offers comprehensive green energy solutions for rural and urban areas like turnkey, EPC and O&M solutions for various business segments like utility-scale projects, solar rooftop, and solar pump systems. Along with its extensive portfolio of renewable solutions, it has a state-of-the-art solar cell and module manufacturing plant of 1.2 GW in Bengaluru and plans to set up a Greenfield 4 GW solar cell and 4 GW solar module plant. In addition, TPREL also provides electric vehicle (EV) charging solutions across various segments and other advisory solutions across the renewable sector. As on date, TPREL's total renewable utility capacity is 7,821 MW including 3,689 MW projects under various stages of implementation and its operational capacity is 4,132 MW, which includes 3,139 MW solar and 993 MW wind. Presently, the company's solar EPC portfolio is more than 11.5 GWp of ground-mount utility-scale, over 1.6 GW of rooftop and distributed ground-mounted systems, and over 1,00,000 solar water pumps. TPREL aims to provide energy access to millions of people across the country via its integrated green energy solutions. Know more: www.tatapowersolar.com
About Tata Power
Tata Power (NSE: TATAPOWER; BSE:500400) is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 14,324 MW. The Company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, and trading. The Company developed the country's first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 5,464 MW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 38% of the overall portfolio, the company is a leader in clean energy generation. It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from the Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand.
Tata Power is currently serving more than 12.9 million consumers via its Discoms, under a public-private partnership model viz Tata Power Delhi Distribution Ltd. with the Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.
With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. In its 108 years track record of technology advancements, project execution excellence, world-class safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com
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