Tata Power Renewable Energy Limited signs PDA for 26 MW AC Group Captive Solar Plant

MUMBAI:
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.

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.

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.