Tata Power Renewable Energy Limited (TPREL), a leading renewable energy player and a subsidiary of Tata Power, has signed a Power Delivery Agreement (PDA) with Xpro India Limited, through a special purpose vehicle (SPV), for the development of a 3.125 MW AC Group Captive Solar Plant. The SPV shall develop, operate, and maintain this captive solar power facility.
Located in Achegaon, Maharashtra, the plant is expected to produce 7.128 million units of electricity annually and will support the use of renewable energy for Xpro India's Polymer Processing Business. 161 million units of electricity will be generated during the agreement term of 25 years and will mitigate approximately 51,660 tons of carbon dioxide emissions.
Speaking about the partnership, Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, stated, "We are pleased to join hands with Xpro India Limited to establish a group captive plant for its polymer processing business. The alliance reflects our commitment to promote the adoption of renewable power in energy intensive businesses and to contribute towards the nation's clean energy transition journey."
We believe that this collaboration with TPREL is a significant step in our sustainability journey, Mr. Vinay Kumar Agarwal, President (Finance) & Chief Financial Officer, Xpro India Limited stated "By sourcing clean energy through this PDA, we are moving forward towards reduced carbon emission and meeting our ESG target of protection of the environment to the extent possible."
Group captive projects offer a stable tariff throughout the PDA terms, unaffected by regulatory changes seen in short-term contracts.
Recently, TPREL had entered into a PDA with Sanyo Special Steel Manufacturing India Pvt. Ltd. for a Captive Solar Plant with a capacity of 28.125 megawatts (AC) and a Captive PDA for 4.4 megawatts (AC) with the ANAND Group, a prominent global leader in the automotive systems and parts industry.
With this addition, TPREL's total renewable utility capacity is 7,836 MW including 3,690 MW projects under various stages of implementation and its operational capacity is 4,146 MW, which includes 3,153 MW solar and 993 MW wind.
Shares of Tata Power Company Limited was last trading in BSE at Rs. 265.05 as compared to the previous close of Rs. 264.80. The total number of shares traded during the day was 418427 in over 6021 trades.
The stock hit an intraday high of Rs. 267.95 and intraday low of 263.60. The net turnover during the day was Rs. 111131405.00.
Shares of Xpro India Limited was last trading in BSE at Rs. 1005.05 as compared to the previous close of Rs. 943.75. The total number of shares traded during the day was 25906 in over 2891 trades.
The stock hit an intraday high of Rs. 1077.00 and intraday low of 944.75. The net turnover during the day was Rs. 26362766.00. |
