A 28.12 megawatt green energy facility will be built in Maharashtra through a partnership between Tata Power Renewable Energy Limited (TPREL) and Sanyo Special Steel Manufacturing India Private Limited (SSMI). TPREL, a division of Tata Power, announced on Thursday that it has completed the Power Delivery Agreement (PDA) with SSMI via its Special Purpose Vehicle (SPV), TP Alpha Limited.
In order to build a 28.125 MW AC (39.375 MWp) captive solar plant in the Maharashtra district of Aachegaon, TPREL teams up with SSMI. It is anticipated that the plant will generate 61.875 million units (MUs) of electricity annually, which will be enough to power the SSMI steel production unit's energy needs. Additionally, it will lessen SSMI's annual carbon footprint by 42,534 tonnes.
The project will be started by March 2024. By reducing reliance on fossil fuel-based energy, minimising the carbon footprint, and producing green steel, this project is in line with SSMI's long-term climate change plan.
"These initiatives yield advantages like cost reduction, lower emissions, enhanced energy security, and alignment with sustainability targets," said Ashish Khanna, CEO of Tata Power Renewable Energy Limited. Captive power projects are given priority by the government because of their benefits to the economy and environment, which emphasises how important they are to many different sectors of the economy.
"This collaboration perfectly describes our commitment to the clean and green energy solutions, which not only aligns with our goals towards climate change and sustainable development but also significantly benefits the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing green steel," said Dilipkumar Pachpande, the managing director of Sanyo Special Steel Manufacturing India Pvt Ltd.