"Tata Power Inks ₹105-cr Deal with Tata Communications"

Tata Power Co Ltd witnessed a 1.23 per cent surge in its shares following the announcement that its subsidiary, Tata Power Renewable Energy Limited (TPREL), has entered into a power delivery agreement (PDA) worth ₹105 crore with Tata Communications Limited. The agreement entails the establishment of an 18.75-MW AC group captive solar power plant, to be situated in Aachegaon, Maharashtra, through a special purpose vehicle (SPV) named Nivade Windfarm Limited.

Anticipated to generate around 40 million units (MUs) of power annually, the solar power plant aligns with Tata Communications' renewable energy objectives. Additionally, it is projected to offset over 30,000 tonnes of carbon dioxide emissions each year.

Deepesh Nanda, CEO and Managing Director of Tata Power Renewable Energy Limited, expressed satisfaction in partnering with Tata Communications to facilitate their transition towards renewable energy. He highlighted the tailored green energy solutions such as group captive solar as instrumental in reducing operational costs and enhancing energy efficiency. Nanda emphasized the significance of such initiatives in fostering sustainability and preparing the sector for the future.

HBL