Tata Motors signs PPA with Tata Power to install 3 MWp rooftop solar project in PVBU plant; Stock surges

This solar rooftop project is expected to generate nearly 45 lakh KWh per year, reducing carbon emissions by approximately 3,538 tonnes per year.

Sep 15, 2021 02:09 IST India Infoline News Service

Tata Motors
Tata Motors has inked a Solar Power Purchase Agreement with Tata Power to install and operate a 3 MWp rooftop solar project at its Passenger Vehicle Business Unit (PVBU) plant in Pune. This solar rooftop project is expected to generate nearly 45 lakh KWh per year, reducing carbon emissions by approximately 3,538 tonnes per year.

Rajesh Khatri, Vice President – Operations, Passenger Vehicle Business Unit, Tata Motors, said, “After the recent inauguration of India’s largest solar carport at our car plant in Pune, this project marks a new milestone in our ongoing efforts to reduce our impact on the planet. Energy efficiency is at the core of our efforts and reducing GHG emissions and the carbon footprint of our products play a vital role. We will continue to conserve energy in our manufacturing facilities, optimising the consumption of non-renewable fossil fuels, energy productivity, climate change mitigation and lower operating costs.”

Ravinder Singh, Chief-Solar Rooftops Business, Tata Power said, “As One Tata initiative, we are glad to partner with Tata Motors to help them transform their PVBU Pune Unit. This partnership represents our collective effort to help Tata Motors lower its carbon footprint and achieve its net zero carbon goal. We will continue to provide such future-focused green energy solutions and continue to strengthen our partners and customers by harnessing clean energy resources.”

As per the statement, being a signatory of the RE100, Tata Motors is committed to using 100% renewable power and has taken several strides towards achieving this goal by progressively increasing the proportion of renewable energy used in its operations.

In FY21, the company’s car plants in Pune and Sanand generated/sourced 26.10 million kWh of renewable electricity, which is 25.0% of its total power (111.3 million units) consumption. This contributed to the avoidance of 18,672 metric tons of carbon dioxide (CO2) emissions.  The company intends to source renewable energy more rigorously, to the extent possible, to meet its aspiration to source 100 per cent renewable energy by 2030.

At around 2.35 pm, Tata Motors was trading at Rs307.75  per piece up 0.6% on Sensex. Meanwhile, Tata Power stock hits a new 52-week high of Rs142.30 per piece before trading higher by 5% at Rs139.35  per piece. 

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