Tata Power Renewable Energy Limited (TPREL), a leading renewable energy player and a subsidiary of The Tata Power Company Limited, has signed a Power Delivery Agreement (PDA) with Endurance Technologies Limited, a leading auto component manufacturer, through a special purpose vehicle (SPV) TP Green Nature Limited, for the development of 12.5MW AC Captive Solar Plant.
The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year. This will help in reducing Endurance Technologies' carbon footprints and mitigate approximately 9,125 metric tonnes (MT) of carbon emissions annually.
The project is expected to be completed within 12 months of the signing of the PDA.
Commenting on the partnership, Ashish Khanna, CEO, TPREL, said, "Our partnership with Endurance Technologies Limited to set up a captive solar plant will support them in adopting sustainable energy solutions. At TPREL, we are dedicated to supporting energy-intensive businesses across multiple industries to actively adopt green energy solutions and advance the nation's energy transition journey.'
Notably, TPREL and Endurance Technologies Limited have already experienced a fruitful partnership with a 12.5 MW captive solar power plant in Akkalkot, Maharashtra. This operational solar plant has an annual power generation capacity of 18.7 million units (MUs).
TPREL has demonstrated remarkable prowess in tailoring captive energy solutions for various industries like steel, hospitality, realty, auto components, polymer et al and delivering them in a dependable, cost-effective, and environment-friendly way.
Mr. Ramesh Gehaney, Director & COO, Endurance Technologies Limited, said, "We are committed to environmental responsibility and adopting eco-friendly energy alternatives through this partnership with Tata Power Renewable Energy Limited. Green energy reduces pollution, curbs climate change, and preserves natural resources while fostering sustainable economic growth and energy independence. The captive solar plant represents a pivotal milestone in our journey towards green energy and vision for a sustainable future."
With this proposed captive solar power plant, the overall renewable energy portfolio of TPREL reaches a total capacity of 7,889 MW. This includes 3,701 MW of projects in various stages of implementation, underscoring TPREL's commitment to expanding its clean energy footprint. The company's operational capacity currently stands at 4,188 MW comprising 3,185 MW of solar and 1,003 MW of wind energy.
Shares of Tata Power Company Limited was last trading in BSE at Rs. 254.85 as compared to the previous close of Rs. 254.05. The total number of shares traded during the day was 276689 in over 5002 trades.
The stock hit an intraday high of Rs. 256.75 and intraday low of 253.60. The net turnover during the day was Rs. 70571020.00.