Tata Power arm to set up captive solar unit for Sanyo Steel in Maharashtra

Mumbai: TP Alpha Ltd, a subsidiary of Tata Power Renewable Energy, Thursday said it has signed a power delivery agreement with Sanyo Special Steel Manufacturing India for a 28.125 MW (AC) captive solar plant in Aachegaon, Maharashtra.

The plant is projected to produce 61.875 million units of electricity per annum, which would meet the energy requirement of Sanyo Special Steel's manufacturing unit.


"These initiatives yield advantages like cost reduction, lower emissions, enhanced energy security, and alignment with sustainability targets," said Ashish Khanna, CEO, Tata Power Renewable Energy. "The government's prioritisation of captive power projects, driven by their economic and environmental merits, highlights their significance for various industries."

The overall capacity of the facility is 120 MWp AC. The project will be commissioned by March 2024, as per the arrangement. This solar power will meet Sanyo Special Steel's green power requirements and contribute towards the UN Sustainable Development Goals.

The use of solar energy from this installation will help to reduce Sanyo Special Steel's carbon footprint by 42,534 tonnes annually (reduction of carbon dioxide or CO2 emissions by 42,534 tonnes annually). This project aligns with Sanyo Special Steel's long-term strategy towards climate change by reducing dependency on fossil fuel-based energy, lower the carbon footprint and manufacture green steel.

"This collaboration perfectly describes our commitment towards clean and green energy solutions. This is a significant step towards our long-term strategy towards sustainable development," said Dilipkumar Pachpande, MD, Sanyo Special Steel Manufacturing India. The project is in line with the objectives of the National Green Energy policy, emphasising India's commitment to fostering a clean energy ecosystem.

Earlier, Tata Power Renewable Energy secured a letter of award for a 966 MWRTC hybrid project, which marked one of the largest industrial round-the-clock power purchase pacts within the group captive segment in the country.

With the addition of this project, the total renewables capacity of Tata Power Renewable Energy reaches 7,815 MW, including 3,683 MW projects under various stages of implementation and its operational capacity is 4,132 MW, which includes 3,139 MW solar and 993 MW wind.