Tata Power To Develop 4 MWp Solar Project At Tata Motors' Pune Plant

Topics

Tata Power | Tata Motors | solar project

Press Trust of India  |  New Delhi 



Tata

TATA (Photo: Bloomberg)

on Wednesday said that it has inked a pact to develop a 4-MWp at Tata Motors' Pune plant.

" and have entered into a Power Purchase Agreement (PPA) to develop a 4-MWp on-site at Tata Motors' Pune commercial vehicle manufacturing facility," a BSE filing said.

The installation is collectively expected to generate 5.8 million units of electricity, potentially mitigating over 10 lakh tonnes of carbon emission. This is equivalent to planting over 16 lakh teak trees over a lifetime, it stated.

Alok Kumar Singh, Plant Head, Commercial Vehicle Manufacturing Facility, Tata Motors, said, "In FY22, the total renewable energy contribution at our CV Pune plant was 32 per cent. With this agreement, we reaffirm our commitment to moving closer to our goals of cultivating 100 per cent renewable energy capacity."

Until FY22, at its Pune plant, including at its passenger and commercial vehicle manufacturing facilities, deployed 15 MWp solar project, generating 21 million kWh of renewable electricity.

Over the next few years, the company plans to expand the solar capacity of its Pune plant to meet the growing demand for renewable energy.

Shivram Bikkina, Chief Solar Rooftop, Tata Power, said, " is pleased to collaborate with in supporting the expansion of green energy utilisation through this 4 MWp power project at its manufacturing facility in Pune. We are committed to working closely with all our partners and creating clean energy solutions for making their operations green and sustainable."

In FY22, across all its plants in India, the company generated 92.39 million kWh of renewable electricity for its manufacturing operations, which is 19.4 per cent of the total power consumption.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, September 14 2022. 18:06 IST

RECENT NEWS

JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity

JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more

Private Equity And Banks: The Complex Web Of Leverage

Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more

Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector

The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more

JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism

In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more

Big Banks Vs. Regional Banks: The Battle For Market Share

The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more

The Evolution Of Philanthropic Advisory Services In Private Banks

The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more