Tata Power Renewable Energy Limited Signs 26 MW Captive Solar Plant Agreement with Neosym Industry Ltd

Strategic Insights -

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Ltd, has signed a significant agreement with Neosym Industry Ltd (Neosym) for the development of a 26 megawatt (MW) AC group captive solar plant in Jamkhed, Ahmednagar, Maharashtra. The project, expected to start in March 2024, aims to generate 59 million units of electricity annually, reducing greenhouse gas emissions by approximately 32,500 tonnes annually. This partnership reflects TPREL's commitment to providing clean and sustainable energy solutions to its customers, in line with India's goals to combat climate change.

Key Takeaways:

  • The Tata Power Renewable Energy Limited (TPREL) has signed a Power Delivery Agreement (PDA) with Neosym Industry Ltd (Neosym) for a 26 MW AC group captive solar plant in Jamkhed, Ahmednagar, Maharashtra.
  • The project is expected to generate 59 million units of electricity annually, starting from March 2024.
  • The proposed plant aims to reduce ~ 32,500 tonnes of CO2 emissions annually, aligning with India's commitment to combat climate change.
  • This partnership marks a significant milestone in TPREL's pursuit of providing clean and sustainable energy solutions to its customers.
  • The project serves as a step towards enhancing renewable energy capacity and reducing carbon emissions in the country.
  • Neosym Industry Ltd has emphasized its commitment to diminishing its carbon footprint and contributing to India's green energy revolution.
  • Tata Power Renewable Energy Limited supports several C&I consumers across various industries to harness the power of renewable energy for sustainable operations.
  • The company's total renewables capacity stands at 7,821 MW, with 4,132 MW operational capacity, including 3,139 MW solar and 993 MW wind.

Statistics:

  • 59 million units of electricity generated annually by the proposed 26 MW AC group captive solar plant.
  • 32,500 tonnes of CO2 emissions reduced annually by the proposed plant.
  • 26 MW AC capacity of the proposed plant.
  • 3,139 MW of solar capacity operational with Tata Power Renewable Energy Limited.
  • 993 MW of wind capacity operational with Tata Power Renewable Energy Limited.
  • 7,821 MW of total renewables capacity with Tata Power Renewable Energy Limited.

Sources:

  • A regulatory filing by Tata Power Renewable Energy Limited, mentioned in the article.
  • Vinay Mohta, GM Commercial, Neosym Industry Ltd, quoted in the article.
  • Ashish Khanna, CEO, Tata Power Renewable Energy Limited, quoted in the article.