TP Saurya Ltd, a wholly-owned subsidiary of Tata Power, has signed a power purchase agreement with Tata Steel to develop a 15 megawatt solar project at Jamshedpur in Jharkhand.
The energy will be supplied to Tata Steel under a power purchase agreement valid for a period of 25 years from scheduled commercial operation date.
The project is required to be commissioned within six months from the date of power purchase agreement's execution. The plant is expected to generate an average of 32 million units of energy per year and will annually offset average 25.8 million kg of carbon dioxide.
Tata Power's renewable capacity will increase to 4,047 MW out of which 2,687 MW is operational and 1,360 MW is under implementation, including 15 MW won under this power purchase agreement.
"We are glad to collaborate with Tata Steel to reduce their carbon footprint and reaffirm the Tata Group's commitment for sustainability," said Praveer Sinha, CEO and Managing Director of Tata Power.
"Presently the association is limited to Tata Steel at Jamshedpur and we look forward to working closely with them for covering all their other plants across India," he said in a statement on Wednesday.
( With inputs from ANI )
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