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Tata Power’s arm enters into Power Purchase Agreement with Tata Motors

06 Sep 2023 Evaluate

Tata Power Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has entered into a Power Purchase Agreement (PPA) with Tata Motors to develop a new 12MWp on-site solar project at Tata Motors’ Pune commercial vehicle manufacturing facility. A significant step towards attaining green manufacturing, the installation is collectively expected to generate 17.5 million units of electricity every year, which will meet nearly 17.2% of the annualized requirement, potentially mitigating over 12400 tonnes/kWh of carbon emission each year.

The solar project is to be commissioned within six months after the PPA gets signed and will be a significant contributor to Tata Motors' long-term ambitions. The PPA will include rooftop installations. This 12MWp adds to existing 8.73 MWp summing to 20.73 MWp for Tata Motors across CVBU (Commercial vehicle), Pune. Over the next few years, the company plans to expand the solar capacity of its Pune plant to meet the growing demand for renewable energy.

Tata Power Company is India’s largest integrated power company.
 

Peers
Company Name CMP
NTPC 327.00
Tata Power 361.00
Adani Power 202.35
Power Grid Corpn. 263.50
Adani Energy Solut. 1350.00
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