Tata Power Renewable Energy Limited (TPREL) through its Special Purpose Vehicle (SPV) TP Alpha Limited, has entered into a Power Delivery Agreement (PDA) with Sanyo Special Steel Manufacturing India Private Limited (SSMI). The agreement is for the establishment of a 28.12-megawatt green energy plant in Aachegaon, Solapur district in Maharashtra.
The plant’s anticipated annual electricity production is 61.875 million units (MUs), fulfilling the energy demand of SSMI’s steel manufacturing facility. The project is scheduled to be commissioned by March 2024, according to the arrangement.
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Ashish Khanna, CEO of Tata Power Renewable Energy Limited, stated that these initiatives yield advantages like cost reduction, lower emissions, enhanced energy security, and alignment with sustainability targets. The government’s prioritization of captive power projects, driven by their economic and environmental merits, highlights their significance for various industries.
Dilipkumar Pachpande, Managing Director of Sanyo Special Steel Manufacturing India Pvt Ltd, stated that this collaboration perfectly describes their commitment towards clean and green energy solutions which not only align with their goals towards climate change and sustainable development but also significantly benefit the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing green steel.
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