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 Private Limited (SSMI) for a Captive Solar Plant having capacity of 28.125 MW (AC) (i.e. 39.375 MWp DC) which is located in Aachegaon, District- Solapur, Maharashtra, the company announced through an exchange filing.
The solar plant is projected to produce an annual electricity of 61.875 Million Units (MUs) which would meet the energy requirement of the 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, 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.”
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 a significant portion of our power requirement through renewable sources which is aligned 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 making the most of this association and fetch maximum benefit for the 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.
