New Delhi: Tata Power Renewable Energy on Wednesday said it has inked an agreement with Dr. Abhay Firodia Group of Companies, Force Motors Ltd and Jaya Hind Industries Pvt Ltd, to develop a 13.2 MW group captive solar plant.
"Tata Power Renewable Energy Ltd (TPREL) entered into a Power Delivery Agreement (PDA) with Dr. Abhay Firodia Group of Companies -- Force Motors Limited and Jaya Hind Industries Private Limited -- for supplying green power for 25 years under Group Captive scheme," a company statement said.
Under the group captive scheme, a power plant is developed for collective usage of multiple consumers.
The partnership marks a significant stride in advancing sustainable energy solutions for industrial usage.
Under the agreement, Force Motors Ltd, a fully vertically integrated automobile company, will use 6.2 MW AC power and consume 13.64 million units (MUs) annually.
While the other group company, Jaya Hind Industries Private Ltd, will use 7.0 MW AC power, consuming 15.40 MUs every year.
Located at Achegaon in Maharashtra, this solar plant has a capacity of 13.2 MW AC, generating 29.04 MUs power annually and it is expected to reduce carbon emissions by approximately 21,200 metric tonnes per year.
The project is scheduled to be completed within 12 months from the signing of power delivery agreement.
TPREL will oversee the development, management, and maintenance of the group captive solar plant.
Force Motors Ltd and Jaya Hind Industries Private Ltd would benefit from clean and reliable power supply from the plant and have the chance to actively contribute to environmental sustainability.
Deepesh Nanda, CEO & MD, Tata Power Renewable Energy, said in the statement, "It will set new benchmarks in the automotive sector towards adoption of clean energy for environmentally conscious future."
Tata Power Renewable Energy is a subsidiary of Tata Power Company Limited, one of India's largest integrated power companies.
With this addition, the total renewables capacity of TPREL reached 8,327 MW (PPA capacity is 7,338 MW), which comprises 4,107 MW of projects in different phases of development and an operating capacity of 4,220 MW, including 3,201 MW in solar projects and 1,019 MW in wind projects.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)