Tata Motors and Tata Power Renewable Energy Limited (TPREL) have entered into a historic Power Purchase Agreement (PPA) to co-develop a 131 MW wind-solar hybrid renewable energy project in India.
The hybrid project will produce 300 million units of green power every year, which will go a long way in fulfilling India’s clean energy aspirations. The project will mitigate over 2 lakh tonnes of CO₂ emissions annually, again making Tata Motors a climate resilience and sustainability champion.
The green energy will be supplied only to Tata Motors’ six manufacturing plants in Maharashtra and Gujarat under the long-term PPA. The project will make the commercial and passenger vehicle manufacturing units adopt the green, low-cost energy. The hybrid approach is placed under co-investment and long-term supply agreements, providing guaranteed and stable renewable power supply.
The project enables Tata Motors’ RE100 goal to use 100% renewable electricity by the 2030 world goal. It is also a milestone in Tata Motors’ net-zero emission roadmap and showcases its leadership in championing sustainable manufacturing culture.
Mr. Vishal Badshah, VP – Operations (Commercial Vehicles), Tata Motors, called the initiative a milestone in green vehicle manufacturing, cementing the company’s position as a leader in India’s green mobility market. Mr. Pramod Choudhary, VP – Operations (Passenger Vehicles), added that the deal will substantially increase green production capacity in Tata’s Gujarat and Maharashtra plants.
He further added that the PPA would contribute to making passenger vehicle operations cleaner, smarter, and stronger and hence enable India’s green industrial revolution. Through this alliance, Tata Motors takes a landmark step towards doubling its use of renewable energy, further building sustainability into its whole value chain.
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.