Tata Power arm signs landmark PPA with Tata Motors for 131 MW hybrid project
Tata Power Company announced that its subsidiary, Tata Power Renewable Energy (TPREL), has signed a landmark power purchase agreement (PPA) with Tata Motors to co-develop a 131 MW wind-solar hybrid renewable energy project.
The project is expected to generate approximately 300 million units (MUs) of renewable electricity annually, offsetting over two lakh tons of carbon dioxide emissions each year. The hybrid system will supply clean energy to Tata Motors six manufacturing facilities located across Maharashtra and Gujarat.
The PPA has been structured under a group captive model, with both Tata Power and Tata Motors committing co-investment. This initiative supports Tata Motors' RE100 goal to achieve 100% renewable electricity consumption ahead of the global 2030 target.
With this agreement, Tata Power Renewables group captive portfolio has crossed 1.5 GW, of which 478 MW is currently operational and nearly 1.1 GW is under various stages of development. These projects are expected to be commissioned over the next 6 to 24 months.
TPREL continues to focus on delivering customized round-the-clock (RTC) energy solutions that integrate solar, wind, floating solar, and battery storage technologies to provide uninterrupted clean power. The company currently serves diverse commercial and industrial sectors, including steel, automotive, polymer, hospitality, retail, and real estate.
Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it has an installed/managed capacity of 14,453 MW. The company has a presence across the entire power value chaingeneration of renewable as well as conventional power, including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.
The companys consolidated net profit rose 8.2% YoY to Rs 1,030.70 crore in the quarter ended 31st December 2024. Net sales increased 5.1% to Rs 15,391.06 crore in Q3 FY25 as compared with Rs 14,651 crore in Q3 FY24.
Shares of Tata Power Company rose 0.22% to Rs 391.80 on the BSE.
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