Tata Steel To Acquire 26% in TPVSL, A Subsidiary of Tata Power Renewable Energy

Tata Steel Limited (‘TSL’) on Thursday announced that it has concluded negotiations to enter into definitive agreements with TPREL and TP Vardhaman Surya Ltd. (‘TPVSL’) to acquire 26% in TPVSL, currently a wholly owned subsidiary of TPREL. TSL will also execute a fixed-tariff long-term agreement with TPVSL to source 379 MW of captive renewable power, which will save 50 million tons of carbon emissions over the contract period of 25 years.

TPVSL will set up a ~966 MW solar-wind hybrid renewable power facility which would make it one of the biggest industrial power projects under group captive segment in the country. This arrangement will replace a part of the existing coal-based power generation at Tata Steel Jamshedpur and cater to the requirements at Tata Steel Kalinganagar and the Electric Arc Furnace project at Ludhiana, Punjab.

T.V. Narendran, Chief Executive Officer and Managing Director, Tata Steel, said: “Our partnership with Tata Power Renewable Energy marks a pivotal step in Tata Steel's sustainability journey towards achieving Net Zero carbon emissions by 2045. We stay committed to reducing our environment footprint and transitioning towards clean, green energy solutions, thus enabling a better tomorrow.”

Dr. Praveer Sinha, CEO & MD, Tata Power, said: “Tata Power is happy to develop this round-the-clock hybrid renewable power plant for Tata Steel. It is one of the largest industrial group captive plants in the country and will contribute towards meeting their clean energy goals by significantly reducing the carbon emissions."

Tata Power Renewable Energy and Rahul Bajaj's Nephew's Endurance Technologies Setting Up 12.5 MW Captive Solar Plant

The plant is estimated to generate 27.5 MUs of power; will cut the CO2 emissions by over 9,125 tonnes/ kWh annually

Tata Power Renewable Energy Limited (TPREL), a leading renewable energy player and a subsidiary of The Tata Power Company Limited, has signed a Power Delivery Agreement (PDA) with Endurance Technologies Limited, a leading auto component manufacturer, through a special purpose vehicle (SPV) TP Green Nature Limited, for the development of 12.5MW AC Captive Solar Plant.

Endurance Technologies was started in 1985 by Anurang Jain, who is the nephew of late motorcycle tycoon Rahul Bajaj, who was the chairman emeritus of the 96-years-old Indian conglomerate, Bajaj Group.

The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year. This will help in reducing Endurance Technologies' carbon footprints and mitigate approximately 9,125 metric tonnes (MT) of carbon emissions annually.

The project is expected to be completed within 12 months of the signing of the PDA.

Commenting on the partnership, Ashish Khanna, CEO, TPREL, said, “Our partnership with Endurance Technologies Limited to set up a captive solar plant will support them in adopting sustainable energy solutions. At TPREL, we are dedicated to supporting energy-intensive businesses across multiple industries to actively adopt green energy solutions and advance the nation's energy transition journey."

Notably, TPREL and Endurance Technologies have already experienced a fruitful partnership with a 12.5 MW captive solar power plant in Akkalkot, Maharashtra. This operational solar plant has an annual power generation capacity of 18.7 million units (MUs).

TPREL has demonstrated remarkable prowess in tailoring captive energy solutions for various industries like steel, hospitality, realty, auto components, polymer et al and delivering them in a dependable, cost-effective, and environment-friendly way.

Late last month, TPREL announced that it will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar Limited (TP Solar)’s new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli, Tamil Nadu.

Ramesh Gehaney, Director & COO, Endurance Technologies Limited, said, “We are committed to environmental responsibility and adopting eco-friendly energy alternatives through this partnership with Tata Power Renewable Energy Limited. Green energy reduces pollution, curbs climate change, and preserves natural resources while fostering sustainable economic growth and energy independence. The captive solar plant represents a pivotal milestone in our journey towards green energy and vision for a sustainable future.”

With this proposed captive solar power plant, the overall renewable energy portfolio of TPREL reaches a total capacity of 7,889 MW. This includes 3,701 MW of projects in various stages of implementation, underscoring TPREL's commitment to expanding its clean energy footprint. The company's operational capacity currently stands at 4,188 MW comprising 3,185 MW of solar and 1,003 MW of wind energy.

Tata Power Renewable Energy to Set Up 41 MW Captive Solar Plant for TP Solar Upcoming 4.3 GW Solar cell and module Manufacturing Facility in Tamil Nadu

Captive plant to generate 101 million units of electricity a year, offsetting 71,577 metric tonnes of CO2 emissions

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company Limited, will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar Limited (TP Solar)’s new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli, Tamil Nadu. The captive plant will help generate 101 million units of electricity and offset around 72,000 metric tonnes of CO2 emissions annually.

A captive solar power plant refers to a solar power plant that has been implemented by a company for its own consumption.

This captive solar project will be commissioned 12 months from the signing of the Project Development Agreement (PDA). TPREL has established TP Govardhan Creatives Limited, a specialized entity entrusted with the development, operation, and upkeep of this facility for TP Solar. TP Solar’s manufacturing plant is expected to start commercial production of cells and modules by FY 24-25. TP Solar Ltd., is a subsidiary of Tata Power Renewable Energy Limited.

With this new captive solar plant, TPREL’s total capacity will expand to 7,877 MW including 3,720 MW of projects at different stages of implementation, and an operational capacity of 4,157 MW, comprising 3,154 MW solar energy and 1,003 MW wind energy.

Mr. Ashish Khanna, CEO, TPREL, said, “Green energy supply to our state-of-the-art 4.3 GW solar cell and module manufacturing facility from the captive solar plant is a shining example of our commitment to a sustainable transition to green energy. This arrangement will act as a model for all the upcoming solar component manufacturing facilities to source green energy for their production and the resulting domino effect will significantly contribute towards the country’s ambitious target of achieving 500 GW of non-fossil fuel-based energy capacity by the end of this decade.”