Tata Power Renewable to set up 100 MW captive solar plant for Viraj Profile

8 Sep 2022 , 04:03 PM

Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power, has collaborated with the leading Indian Stainless Steel manufacturer – Viraj Profile, to set up a 100 MW captive solar plant. The plant will be developed by Tata Power at Nandgaon at its Nasik site and it will power Viraj Profiles Tarapur Plant. With this, Viraj will become one of the first Stainless Steel Long Products manufacturing companies in India to use Solar Energy to run its manufacturing plant. With the commissioning of this plant, Viraj Profiles dependability on non-renewable power resources will be reduced by approximately 50%. The project will get commissioned by July 2023. TPREL has created a special purpose vehicle (SPV) – TP Nanded, which will undertake the construction, operation and maintenance of this captive solar power plant. The plant is expected to generate about 200 MUs of energy and offset approximately 170.43 million Kg of CO2 annually. As per captive generation rules, Tata Power will own 74% of the generation while Viraj Profile will own the remaining 26%. Powered by Capital Market – Live News