Tata Power RE inks PDA for 26 MW AC Group Captive Solar Plant with Neosym Industry

5 Sep 2023 , 10:54 AM

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, signed a Power Delivery Agreement (PDA) for a 26 MW AC Group Captive Solar plant with Neosym Industry Limited (Neosym), a leading Gray & S.G. Iron casting, manufacturing company in India.

The project, which will be located in Jamkhed, Ahmednagar, Maharashtra, and will have an annual capacity of 59 million units, will begin in March 2024. The plant is intended to reduce CO2 emissions by 32,500 tonnes per year.

This significant reduction in greenhouse gas emissions is consistent with India’s resolution to tackle climate change and highlights TPREL and Neosym’s collaborative commitment to environmental sustainability.

As part of its effort to increase renewable energy adoption, the government is actively supporting group captive solar projects. Group Captive ventures need less investment and carry less risk. Renewable Purchase Obligations (RPOs) are incentives, subsidies, and regulations that encourage businesses and communities to invest more in sustainable energy.

TPREL is assisting various C&I users in the steel, automotive, retail, polymer, hospitality, and real estate industries to harness the power of renewable energy for sustainable operations.

For feedback and suggestions, write to us at [e-mail]