Tata Power Renewable Energy Limited (TPREL), a Tata Power arm, has signed a Group Captive Power Delivery Agreement (PDA) for a 4.4-MW AC with global automotive systems and parts industry leader ANAND Group, the company announced on August 29.
As per the deal, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources. The company also stated it expects the project to eliminate roughly 5,500 tonnes of carbon emissions annually, in line with its mission to ensure a greener and cleaner future for the company's Commercial and Industrial (C&I) customers.
Tata Power further noted that it is aimed at setting a precedent for other enterprises to follow suit and invest in eco-friendly energy solutions, by banking on renewable energy sources with sustainability-focused groups such as ANAND.
"We are pleased to support the ANAND Group as it embarks on its clean energy transformative journey. This group captive project highlights our commitment to support the automotive industry in becoming more sustainable and environmentally focused," Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said.
In the past, Tata Power and the ANAND Group have joined forces for setting up a 10.1-MW Solar PV park power project in Maharashtra. The latest Group Captive PPA underscores the synergistic efforts of TPREL and ANAND in promoting the adoption of renewable energy, yielding tangible environmental benefits, and showcasing Tata Power's expertise in innovative energy solutions and ANAND’s focus on sustainable business practices, further highlighted the company.
"In the spirit of sustainable collaboration, the project marks the union of visionaries and targeted goals to develop green energy. As Tata Power Renewable and ANAND Group join hands in this group captive project, we are together setting the path—and new benchmarks—for a greener future together," noted Rajeev Gera, President of Business Development and Corporate Materials at ANAND Group.
According to Tata Power, the latest approach will offer cost-effective renewable energy access for multiple participants, in sync with the Centre's sustainability objectives.
With the latest addition, TPREL's total renewables capacity touches 7,787 MW, including 3,655 MW projects under various stages of implementation. Its operational capacity is 4,132 MW, which includes 3,139 MW solar and 993 MW wind.
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