Tata Power Renewable Energy and ANAND Group sign a PDA for a 4.4 MW AC Group Captive Solar Plant

29 Aug 2023 , 02:27 PM

Tata Power Renewable Energy Limited (TPREL), a Tata Power subsidiary, reported on Tuesday in an exchange filing that it has signed a Group Captive Power Delivery Agreement (PDA) for 4.4 MW AC with the ANAND Group, a pioneer in the automotive systems and parts industry.

In accordance with this contract, TPREL will assist in the production of 10 million units of clean energy from renewable sources. The project is anticipated to reduce annual carbon emissions by about 5500 tonnes, in line with TPREL’s goal of fostering a better and cleaner future for its Commercial and Industrial (C & I) clients. By combining the strength of renewable energy sources with companies that are concerned with sustainability, like ANAND, Tata Power hopes to create a model for other businesses to follow and invest in green energy solutions.

Ashish Khanna, CEO of Tata Power Renewable Energy Limited, commented on the partnership by saying, ‘We are thrilled to support the ANAND Group as it embarks on its transformative journey toward sustainable energy. This group-captive project demonstrates our dedication to helping the automobile sector become more environmentally conscious and sustainable.

Commenting on the collaboration the project brings together visionaries and specific objectives to generate green energy, according to Rajeev Gera, President – Business Development & Corporate Materials, ANAND Group. Tata Power Renewable and ANAND Group are working together to create this group captive project as we jointly pave the way and establish new standards for a greener future.

In the past, Tata Power and the ANAND Group worked together on an Indian state of Maharashtra solar power plant totaling 10.1 MW. This most recent Group Captive PPA highlights TPREL and ANAND’s collaborative efforts to advance the use of renewable energy, producing real environmental benefits and displaying Tata Power’s experience with cutting-edge energy solutions and ANAND’s emphasis on ethical corporate conduct.

This strategy supports the government’s sustainability goals by giving numerous participants access to renewable energy at an affordable price.

With this increase, TPREL’s total renewable energy capacity will be 7,787 MW, comprising 3,655 MW of projects that are in various phases of development. Its operational capacity will be 4,132 MW, which will include 3,139 MW of solar and 993 MW of wind energy.

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