Tata Power to Develop 15 MW Solar Plant in Jharkhand for Tata Steel

Tata Power has announced that TP Saurya Limited has signed a PPA with Tata Steel Limited (TSL) to develop a 15 MW solar project in Jharkhand.

Tata Power, one of India’s largest integrated power companies, has announced that TP Saurya Limited, a wholly-owned subsidiary of Tata Power Company Limited, has signed a Power Purchase Agreement (PPA) with Tata Steel Limited (TSL) to develop a 15 MW solar project at Jamshedpur, Jharkhand.

The energy will be supplied to TSL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The project is required to be commissioned within 6 months from the date of execution of the PPA.

The Plant is expected to generate an average of 32 MUs of energy per year and will annually offset approximately an average 25.8 Million Kg of CO2. With the commissioning of the project, Tata Power’s renewable capacity will increase to 4,047 MW, out of which 2,687 MW is operational and 1,360 MW is under implementation including 15 MW won under this PPA.

Speaking on this achievement, Dr. Praveer Sinha, CEO & MD, Tata Power, said, “We are glad to collaborate with Tata Steel to reduce their carbon footprint and reaffirm the Tata Group’s commitment for sustainability. Presently the association is limited to Tata Steel at Jamshedpur and we look forward to working closely with them for covering all their other plants across India.”

In February, Tata Power had announced its results for the quarter ended December 31, 2020. Reporting a robust overall performance, the firm highlighted its strong showing in the renewable business. 

The firm reported that its Q3FY21 Consolidated Revenue stood at Rs 7,740 crore as compared to Rs 7,171 crore in the corresponding quarter last year mainly due to the Odisha Discom acquisition. The firm stated that in the renewables business, the firm continued its growth with 30 MW added YTD FY21 with 1247 MW under construction. While EBITDA increased to Rs 522 crore in Q3FY21 from Rs 515 crore (Q3FY20) up by 1 percent mainly due to execution of new and held up EPC projects.