Tata Power Subsidiary TPREL Collaborates with Xpro India for Solar Plant in Maharashtra

Tata Power Renewable Energy Limited (TPREL) has entered into a significant partnership with Xpro India to establish a solar power plant in Maharashtra.

This groundbreaking venture aims to promote the use of renewable energy and contribute to the reduction of carbon emissions. The project will be developed, operated, and maintained through a dedicated Special Purpose Vehicle (SPV) established by TPREL.

Sustainable Energy Generation

This state-of-the-art solar facility is expected to produce a substantial 7.128 million units of electricity annually. This energy will be dedicated to supporting Xpro India's Polymer Processing Business.

Over the course of the 25-year agreement, an estimated 161 million units of electricity will be generated. Importantly, this initiative will lead to the mitigation of approximately 51,660 tons of carbon dioxide emissions, underscoring the commitment to environmental sustainability.

Tata Power's Commitment to Clean Energy

Ashish Khanna, CEO of Tata Power Renewable Energy, emphasized the alliance's role in advancing the adoption of renewable energy in energy-intensive industries. He expressed that this collaboration is aligned with Tata Power's commitment to supporting India's clean energy transition.

Stable Tariffs with Group Captive Projects

Group captive projects like this one offer the advantage of stable tariff rates throughout the Power Distribution Agreement (PDA) term, making them resilient to regulatory changes that can impact short-term contracts.

Tata Power's Expanding Renewable Portfolio

With the addition of this project, Tata Power Renewable Energy's total renewable utility capacity now stands at an impressive 7,836 MW. This includes projects at various stages of implementation, with an operational capacity of 4,146 MW, encompassing both solar and wind energy.

Prior Collaborations

TPREL has recently ventured into similar Power Distribution Agreements (PDAs), partnering with Sanyo Special Steel Manufacturing India for a captive solar plant boasting a capacity of 28.125 megawatts (AC). Additionally, a Captive PDA for 4.4 megawatts (AC) was established in collaboration with the ANAND Group.

Xpro India's Commitment to Polymer Processing

Xpro India, a diversified company with a strong focus on polymer processing, is known for its robust governance practices and leadership in supplying sheets/liners to the Indian refrigerator industry.

About Tata Power Company

Tata Power Company is one of India's premier integrated power companies, boasting an installed/managed capacity of 14,319 MW through its subsidiaries and jointly controlled entities. The company plays a pivotal role across the entire power value chain, encompassing renewable and conventional power generation, transmission & distribution, coal & freight, logistics, and trading.

In the stock market, Tata Power Company shares witnessed a 0.64% increase, reaching Rs 266.75 per share, while Xpro India shares surged by 1.51%, settling at Rs 1,020.20 on the BSE.