Tata Power announced on August 21 that its subsidiary Tata Power Renewable Energy Limited (TPREL) has signed a Power Purchase Agreement (PPA) to build a 9MWp on-campus solar project at the Pantnagar factory of Tata Motors Limited in Uttarakhand.
This solar plant is poised to become the biggest campus-based solar facility in the state, it said in a regulatory filing.
With a projected reduction in carbon emissions of 25 tonnes of CO2/kWp in Uttarakhand, the solar project represents Tata Motors' commitment to a sustainable future, the company said.
The solar installation project is expected to be operational in six months after the PPA's execution date.
Tata Motors also mentioned that a 7 MWp solar project was previously implemented by TPREL and Tata Motors at the Pantnagar production facility. Tata Motors reported that the cumulative solar capacity of Pantnagar plant now stands at 16 MWp. According to the press repor, these solar installations are expected to produce 224 lakh units annually, or almost 60 percent of their annual energy needs.
According to Tata Power, TPREL's total renewable capacity is anticipated to reach 7,783 MW, with 3,651 MW of projects now in various phases of development. According to the company, its current operational capacity is 4,132 MW, made up of 993 MW from various sources and 3,139 MW of solar electricity.
Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, “ The 9MWp solar power installation resonates our commitment to fostering the widespread adoption of eco-friendly clean energy solutions across industries”.
Srinath Sharma, Plant Head, Pantnagar, Tata Motors Limited, further added, “We are pleased to implement this solar project at our manufacturing facility which will further help us achieve our sustainability targets by reducing reliance on fossil fuels, while also helping save on electricity costs."
Meanwhile, shares of Tata Power on August 21 closed 4.30 percent higher at Rs 240 apiece on BSE against its pervious close.
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