September 14th 2023.
Tata Power Renewable Energy Limited, a leading renewable energy player and a subsidiary of Tata Power, announced on Thursday that they have signed a Power Delivery Agreement with Xpro India Limited, through a special purpose vehicle, for the development of a 3.125 MW AC Group Captive Solar Plant.
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. Additionally, 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.
Ashish Khanna, CEO of Tata Power Renewable Energy Limited, expressed his excitement about the agreement. “We are pleased to join hands with Xpro India Limited to establish a group captive plant for its polymer processing business. This 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.”
Vinay Kumar Agarwal, President & Chief Financial Officer of Xpro India Limited, noted the beneficial environmental impact of the agreement as well. “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.”
This new agreement is only the latest in a series of agreements that Tata Power Renewable Energy Limited has recently entered into for the development of renewable energy. Recently, they 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 and a Captive PDA for 4.4 megawatts with the ANAND Group.
The total renewable utility capacity of Tata Power Renewable Energy Limited is now 7,836 MW, including 3,690 MW projects under various stages of implementation and 4,146 MW of operational capacity. This includes 3,153 MW solar and 993 MW wind energy.
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