Tata Power Joins Hands With Sanyo For Captive Solar Plant

Tata Power Company’s subsidiary — Tata Power Renewable Energy (TPREL) through its subsidiary TP Alpha (Special Purpose Vehicle) signed a Power Delivery agreement (PDA) with Sanyo Special Steel Manufacturing India (SSMI) for a Captive Solar Plant having capacity of 28.125 MW 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 around 42,534 tonnes annually (reduction of carbon dioxide (CO2) emissions by around 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.

Tata Power Company Limited is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources.

Today, the stock opened at Rs 248.90, with a high and low of Rs 248.90 and Rs 246.55. The stock is currently trading at Rs 246.85, down by 0.22%. The stock has a 52-week high of Rs 252.75 and a 52-week low of Rs 182.45. The company has a ROCE of 12.4% and an ROE of 12.6% with a market capitalisation of Rs 78,813 crore.

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