Tata Power Renewable Energy Ltd. (TPREL) announced that it has entered into an agreement with Supreme Petrochem Ltd. to establish a 12.5 MW captive solar plant in the state of Maharashtra, India.
The company has already executed a Power Delivery Agreement (PDA) with Supreme Petrochem Ltd via a Special Purpose Vehicle (SPV) known as TP Saturn Ltd, as stated by TPREL in a press release.
This solar facility will be situated in Achegaon, Maharashtra, and is projected to produce 27.5 million units of electricity annually. It is anticipated to contribute to a reduction of 20,075 metric tons of carbon emissions per year and is set to commence operations within eight months of the PDA's signing.
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"Our collaboration with Supreme Petrochem Ltd. to establish a 12.5 MW captive solar project will assist them in meeting their sustainable energy requirements. We are aiding various commercial and industrial (C&I) consumers with significant energy demands in transitioning to green energy through our tailor-made green energy solutions," stated Tata Power Renewable Energy CEO Ashish Khanna.
With the proposed captive solar power plant, TPREL, a subsidiary of Tata Power, has expanded its total renewable energy capacity to 7,902 MW. Currently, the company operates at a capacity of 4,191 MW, consisting of 3,185 MW from solar energy and 1,006 MW from wind energy.
