Tata Power and Tata Steel, the two flagship companies of the Tata Group, have come together to develop grid-connected solar plants in Jharkhand and Odisha.
The two companies have signed a Power Purchase Agreement (PPA) for a duration of 25 years to set up 41MW solar project, which will be a combination of rooftop, floating and ground mounted solar panels. Under the project, Tata Power will develop Photo Voltaic (PV) capacities for Tata Steel at Jamshedpur (21.97MWp) and Kalinganagar (19.22MWp).
Under the PPA, at Jamshedpur, Tata Power will develop rooftops PV with 7.57 MWp capacity, while floating and ground mounted capacity would be 10.80 MWp and 3.6MWp, respectively. The ground mounted PV will be installed at Sonari Airport, Jamshedpur. Kalinganagar will have 9.12 MWp rooftop PV capacities, and floating PV will constitute 10.10 MWp.
The estimated energy generation through 41.19MWp solar project is 6, 02, 80,095 kWh for the first year. During its lifetime (i.e. for 25 years), the total energy generation would be 1,40,93,61,488 kWh. The project will help save 45210 tonnes of CO2 per year and 1057021 tonnes during its lifetime (25 years).
Tata Power and Tata Steel have constantly explored opportunities to exploit renewable energy sources, which is the best way of mitigating the impact of climate change. Today's announcement is yet another milestone in the common quest of both the companies to become a sustainability driven enterprise, committed to exploring clean energy solutions.
In March 2021, the two companies had announced to develop a 15MW solar project at Jamshedpur. This project would generate an average of 32 MUs of energy per year. It will help in offsetting approximately average 25.8 million Kgs of CO2 annually. Earlier in 2017, Tata Power Solar had commissioned a 3MW Solar PV Power Plant in Tata Steel's Iron Ore Mine at Noamundi. This was the first solar power plant of its kind at any iron ore mine in the country.
Thanking Tata Power for partnering on this very important initiative, T V Narendran, CEO & MD, Tata Steel, said: 'At Tata Steel, sustainability has always been a core principle that is embedded in its business philosophy and is backed by a long-term, holistic vision of achieving identified targets. We have taken several definitive steps across the value chain to reinforce our sustainability credentials. In recent past, power generation from solar and non-conventional energy sources have gained momentum across our operating locations. We will continue with our pursuit of clean energy solutions and expand our renewable energy footprint.'
Talking of the valued partnership, Dr Praveer Sinha, CEO & MD, Tata Power, said: 'We are glad to collaborate with Tata Steel to help them reduce their carbon footprint and reaffirm the Tata Group's commitment towards the adoption of clean energy. Tata Power and Tata Steel have been collaborating for a long time to meet the energy requirements through cleaner means. This blended solar PV project is yet another milestone in our shared vision of a better tomorrow and we look forward to working closely with them for covering all their other plants across the Country.'
In line with India's Nationally Determined Contributions (NDC), Tata Power has furthered its vision for a sustainable tomorrow with its commitment to achieving Carbon Neutrality before 2050. The company has a focused 3D
Framework of Decarbonization, Decentralization and Digitization and is committed to empower a billion lives through sustainable, affordable and innovative energy solution. The company is pursuing 2 GW of Solar and hybrid capabilities annually to grow more than 25 GW by 2030.
A signatory to the Task Force on Climate-related Financial Disclosures for climate change, Tata Steel is committed to becoming a sustainable steel producer and has taken definitive steps to achieve this goal. The Company set up India's first steel scrap recycling plant in Rohtak followed by a plant for CO2 capture from Blast Furnace gas at its Jamshedpur Works, also first in the country. Tata Steel is investing in enabling long term sustainable solutions in logistics and supply chain and has pioneered the Electric Vehicles for transportation of finished steel in the country. The Company has also earned the distinction of becoming the first steel producer in the world to join the Sea Cargo Charter (SCC) to reduce 'Scope 3' greenhouse gas emissions in ocean trade.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $21.06 billion in the financial year ending March 31, 2021.
A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000.
Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 5 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of Responsible SteelTM and world steel's Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum's Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister's Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India's most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2020, received rating of 'A-' (leadership band) from CDP for its Climate Change disclosure and Supply Chain disclosure, Steel Sustainability Champion 2020 recognition from world steel, 'Most Ethical Company' award 2021 from Ethisphere Institute, Best Risk Management Framework & Systems Award (2020) from CNBC TV-18, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
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 13,061 MW. The Company has presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and trading.
The Company had developed the country's first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 4.2 GW of clean energy generation from solar, wind, hydro and waste heat recovery accounting for 32% 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 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 around 12 million consumers via its Discoms, under public-private partnership model viz Tata Power Delhi Distribution Ltd. with 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 an integrated solutions providers by looking at new business growth in distributed generation through rooftop solar and micro grids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al.
With its 107 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.
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