Tata Power Renewable Unit Secures Contract for 966MW RTC Hybrid Power Project
Tata Power Renewable Energy Limited, a subsidiary of Tata Power, has been awarded the contract to develop a 966 MW RTC (Round-the-clock) hybrid renewable power project for Tata Steel. This project, which combines solar and wind power, is one of the largest industrial RTC power agreements in the Group Captive segment in India.
Tata Steel, a globally diversified steel producer with an annual crude steel capacity of 35 million tonnes, will benefit significantly from this project as it will meet a substantial portion of the company’s green energy requirements in India. By utilizing renewable energy sources, the project will also result in an annual reduction of 2,389,160 tons of CO2 emissions.
Under the agreement, Tata Steel will invest 26% equity in the project, which is scheduled to be commissioned by June 1, 2025.
Dr. Praveer Sinha, CEO & MD of Tata Power, expressed the commitment of Tata Power and Tata Steel to collaboratively develop sustainable energy solutions. He emphasized that the 966 MW RTC hybrid renewable power project is a significant milestone in their joint efforts to accelerate the adoption of clean and green energy, ultimately working towards achieving a net-zero emissions target.
Mr. T. V. Narendran, CEO & MD of Tata Steel, highlighted the company’s pleasure in partnering with Tata Power Renewable Energy Limited to secure a substantial portion of their power requirements from renewable sources. He emphasized that this agreement aligns with Tata Steel’s sustainability vision and will contribute to a significant reduction in carbon emissions associated with their operations. Mr. Narendran firmly believes that renewable energy is the future, and this partnership represents a step forward in Tata Steel’s goal to achieve net-zero emissions by 2045.
With this new contract, Tata Power Renewable Energy Limited’s total renewable energy capacity has reached 7,756 MW, including an installed capacity of 4,059 MW in solar power (3,107 MW) and wind power (952 MW), with an additional 3,697 MW currently in various stages of implementation.
About Tata Power:
Tata Power Company Limited, headquartered in Mumbai, Maharashtra, India, is an electric utility company operating within the Tata Group. The company’s primary focus is on the generation, transmission, and distribution of electricity.
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