Tata Power RE-led arm secures contract to set up 966 MW RE project

Tata Power Renewable Energy Limited informed that the company has bagged a contract to set up 966 MW hybrid renewable power projects for Tata Steel. The order has been received by the company’s subsidiary TP Vardhaman Surya Limited.

According to the company’s statement, the project will have a hybrid renewable energy capacity of 379 MW solar and 587 MW wind power.

Tata Steel has an annual steel production of 35 million tonnes per annum (MTPA) and it is among the top geographically diversified steel producers globally.

The said project will save 23,89,160 tonnes of CO2 emissions annually and will meet a significant part of Tata Steel’s green energy requirements in India.

Tata Steel will pick up a 26% equity stake in the said project. The company expects to complete the project by June 1, 2025.

Tata Power Renewable Energy has witnessed a growth in its overall renewable energy capacity, reaching a total of 7,756 MW. The company currently has an installed capacity of 4,059 MW, which includes 3,107 MW from solar sources and 952 MW from wind sources. Additionally, they have 3,697 MW of capacity in different stages of development.

At around 9.23 AM, Tata Power Company was trading 0.70% higher at Rs 222.20, against the previous close of Rs 220.65 on NSE.

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