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Tata Power Renewable Energy to set up 966MW Round-the-clock (RTC) hybrid renewable power facility for Tata Steel Tata

Tata Power Renewable Energy to set up 966MW Round-the-clock (RTC) hybrid renewable power facility for Tata Steel

India Blooms News Service | @indiablooms | 09 Jun 2023, 12:43 am

Kolkata: Tata Power Renewable Energy Limited will set up 966MW RTC (Round-the-clock) hybrid renewable power for Tata Steel.

The company received Letter of Award ‘LOA’ through its subsidiary TP Vardhaman Surya Ltd.

This is one of the biggest industrial RTC power PPAs under the Group Captive segment in the country.

The project has a hybrid renewable capacity of 379MW solar and 587MW wind power.

Tata Steel, with an annual crude steel capacity of 35 million tonnes per annum (MnTPA), is one of the world’s most geographically diversified steel producers.

This project will fulfill a significant part of Tata Steel’s green energy requirements in India, saving 23,89,160 tons of CO2 emissions annually.

Tata Steel will invest 26% equity in the said project. The project will be commissioned by June 1, 2025, as per the arrangement.

Tata Power CEO & MD Dr. Praveer Sinha said, “Tata Power and Tata Steel are committed to jointly developing green energy solutions. The 966MW RTC (Round-the-clock) hybrid renewable power project marks a significant step towards our combined efforts to accelerate the adoption of clean and green energy to meet the net zero target”.

Tata Steel CEO & MD T. V. Narendran added, “This agreement aligns with our sustainability vision and will contribute to the reduction of carbon emissions associated with our operations. We believe that renewable energy is the future, and this partnership enables us to take one of the steps towards achieving our target of net zero by 2045."

With this win, the total renewables capacity of TPREL reaches 7,756 MW with an installed capacity of 4,059 MW (Solar - 3,107 MW & Wind - 952 MW) and 3,697 MW under various stages of implementation.