Tata Power to set up 966MW hybrid renewable power project for Tata Steel
Tata Power Renewable Energy Limited (TPREL) has announced that its subsidiary, TP Vardhaman Surya Limited, has been granted a Letter of Award (LOA) to establish a massive 966MW Round-the-clock (RTC) hybrid renewable power project for Tata Steel.
This initiative is hailed as one of the largest industrial RTC power purchase agreements (PPAs) within the Group Captive segment in the country.
The project will feature an impressive hybrid renewable capacity, comprising 379MW of solar power and 587MW of wind power. This venture is of significant importance for Tata Steel, one of the world’s leading steel producers with an annual crude steel capacity of 35 million tonnes per annum (MnTPA).
By harnessing green energy, this project will substantially contribute to fulfilling a substantial portion of Tata Steel’s energy requirements in India, resulting in a commendable reduction of 23,89,160 tons of CO2 emissions annually.
Tata Power Renewable Energy’s subsidiary TP Vardhaman Surya to build a 966MW hybrid renewable power project for Tata Steel. Photo courtesy of Ameyajkamat/Wikimedia Commons.
To facilitate the project, Tata Steel has committed to invest 26% equity. The timeline for commissioning the project has been set for June 1, 2025, in accordance with the agreed arrangement.
TV Narendran — Tata Steel CEO and MD said: “We are pleased to partner with Tata Power Renewable Energy Limited to secure a significant portion of our power requirements from renewable sources. 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.”
This achievement propels TPREL’s total renewable capacity to an impressive 7,756MW. Presently, TPREL has an installed capacity of 4,059MW, including 3,107MW of solar power and 952MW of wind power. Additionally, there are ongoing projects with a combined capacity of 3,697MW in various stages of implementation.
With this substantial expansion in the renewable energy sector, Tata Power Renewable Energy Limited and its subsidiary are demonstrating their commitment to clean and sustainable power generation. This latest project serves as a significant milestone, both for Tata Steel and for India’s renewable energy landscape.
Dr Praveer Sinha — Tata Power CEO and MD said: “Tata Power and Tata Steel are committed to jointly develop 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.”