- The plant located at Aachegaon, Maharashtra to generate 61.875 MUs of electricity in a year and would supply power to Sanyo Special Steel Manufacturing India Pvt. Ltd. (“SSMI”) located within the state.
- Solar energy from this plant to reduce SSMI’s carbon footprint by ~42,534 tons annually to drive sustainable growth.
Tata Power Renewable Energy Limited (“TPREL”),a leading player in the renewable energy sector through its subsidiary TP Alpha Limited (Special Purpose Vehicle –“SPV”) signed a Power Delivery Agreement (“PDA”) with Sanyo Special Steel Manufacturing India Pvt. Ltd. for a Captive Solar Plant having capacity of 28.125 MW ( AC) (i.e. 39.375 MWp DC ) which is located in Aachegaon, Dist- Solapur, Maharashtra, the solar plant is projected to produce an annual electricity of 61.875 Million Units (“MUs”) which would meet the energy requirement of steel manufacturing unit of “SSMI”.
The overall capacity of the Aachegaon facility is 120 MWp AC. The project will be commissioned by March 2024 as per the arrangement. This Solar Power will meet “SSMI” green power requirements and contribute towards United Nations Sustainable Development Goals.
The use of solar energy from this installation will help to reduce SSMI’s carbon footprint by ~42,534 tonnes annually (reduction of carbon dioxide (CO2) emissions by ~42,534 tonnes annually). This project aligns with “SSMI” long term strategy towards climate change by reducing dependency on fossil fuel-based energy, lower the carbon footprint and manufacture Green Steel.
The project is in line with the objectives of the National Green Energy policy, emphasizing India's commitment to fostering a clean energy ecosystem.
Speaking on the partnership, Mr. Ashish Khanna, CEO of Tata Power Renewable Energy Limited, stated, "Our partnership with Sanyo Special Steel Manufacturing India Pvt. Ltd. reflects our joint dedication to drive sustainable practices in the steel industry. These initiatives yield advantages like cost reduction, lower emissions, enhanced energy security, and alignment with sustainability targets. The government's prioritization of captive power projects, driven by their economic and environmental merits, highlights their significance for various industries.”
Mr. Dilipkumar Pachpande, Managing Director of Sanyo Special Steel Manufacturing India Pvt. Ltd., added. “We are pleased to join hands with TP Alpha Limited (“SPV”) a subsidiary of Tata Power Renewable Energy Limited to secure significant portion of our power requirement through renewable sources which is align with our sustainability vision. This collaboration perfectly describes our commitment towards the clean and green energy solutions, which not only aligns with our goals towards climate change and sustainable development but also significantly benefits the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing “Green Steel”. We are proud that together we are making a positive impact towards sustainable development. This is a significant step towards our long-term strategy towards sustainable development. We look forward to make the most of this association and fetch maximum benefit for environment as well as for all our stakeholders.
Earlier, TPREL secured a Letter of Award (LoA) for a 966-MWRTC hybrid project, this marked one of the largest industrial Round-The-Clock (RTC) power purchase agreements within the group captive segment in the country.
With this project’s capacity addition, the total renewables capacity of TPREL reaches 7,815 MW including 3,683 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.
From left to right: Mr. Kaushik Sanyal (National Head – TPREL Solar business), Ms. Shweta Mathur (Head- Enterprise Business & Group Captive), Mr. Shivram Bikkina (Chief –TPREL Solar Business), Mr. Hirokazu Suzuki(ED-SSMI), Mr. Dilip Pachpande (MD-SSMI), Mr. Shailendra Jain (CFO-SSMI)
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 7,815 MW including 3,683 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
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
The following press release/announcement may contain forward-looking statements within the meaning of applicable securities laws and regulations. These statements are based on management's current views, expectations, assumptions, and projections regarding the Company's future performance, business plans, growth prospects, competitive and regulatory environment, and other related matters. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in the statements.
Factors that could cause actual results to differ materially from those contemplated in the forward-looking statements are not limited to changes in economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, alterations in the business environment, fluctuations in Government regulations, laws, statutes, judicial pronouncements, and other incidental factors.
The Company does not undertake any obligation to publicly update or revise any forward-looking statements based on subsequent events, information, or developments, except as required by applicable laws and regulations.
