Tata Power Renewable Energy inks deal with Xpro India for 3.1MW solar plant

Tata Power Renewable Energy Limited (TPREL), a prominent subsidiary of Tata Power in the renewable energy sector, has entered into a Power Delivery Agreement (PDA) with Xpro India Limited. The partnership aims to develop a 3.125 MW AC Group Captive Solar Plant through a special purpose vehicle (SPV). Situated in Achegaon, Maharashtra, this new solar facility is projected to generate 7.128 million units of electricity annually. This power production is expected to aid Xpro India’s Polymer Processing Business while mitigating about 51,660 tons of carbon dioxide emissions over a 25-year agreement term.

Ashish Khanna, CEO of Tata Power Renewable Energy Limited, expressed his enthusiasm about the new alliance: “The partnership signifies our commitment to promote renewable power in energy-intensive businesses and contribute to the nation’s transition towards clean energy.” Meanwhile, Vinay Kumar Agarwal, President (Finance) & CFO at Xpro India Limited, stated, “By sourcing clean energy through this PDA, we aim to achieve reduced carbon emissions and meet our ESG targets.”

The captive solar plant will produce an estimated 161 million units of electricity during its 25-year agreement term. Group captive projects like this offer stability in tariff rates over long-term PDAs, unaffected by the regulatory changes commonly seen in short-term contracts. The collaboration builds on TPREL’s recent agreements, including a 28.125 MW AC Captive Solar Plant with Sanyo Special Steel Manufacturing India Pvt. Ltd., and a 4.4 MW AC Captive PDA with the ANAND Group. With this new deal, TPREL’s total renewable utility capacity stands at 7,836 MW, which includes 4,146 MW of operational capacity comprising 3,153 MW solar and 993 MW wind.