~Leverages synergies within the TATA Group in adopting sustainable business practices~
Mumbai, 17thAugust 2020:Indian Hotels Company (IHCL), South Asia’s largest hospitality company, today announced the signing of a solar energy Power Purchase Agreement (PPA) with TP Kirnali Solar Limited, a wholly owned subsidiary of The Tata Power Company Limited. IHCL hotels in Mumbai, namely The Taj Mahal Palace, Taj Lands End and Taj Wellington Mews, will get approximately 60% energy from Green Source and will reduce nearly 22.9 million kg of CO2 emissions on an annual basis. This agreement is valid for a period of 25 years.
Speaking on the agreement, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “Innovation has always been integral to our philosophy at IHCL. This initiative is in line with the company’s focus on adopting sustainable and cost-efficient business practices, while leveraging Group-wide synergies and competencies. We are pleased to collaborate with Tata Power, which is a leader in clean energy generation.”
The agreement further strengthens the Tata Group’s firm commitment towards conserving natural resources for future generations. Through this initiative, IHCL hotels in Mumbai will be able to reduce nearly 22.9 million kg of CO2 emissions on an annual basis, which translates to a carbon reduction equivalent of approximately 7,200 cars off the road.
Speaking on this achievement, Mr. Praveer Sinha, Managing Director and Chief Executive Officer, Tata Power, said, “We are glad to collaborate with IHCL to reduce their carbon footprint and reaffirm the Tata Group’s commitment for sustainability. Presently, the association is limited to IHCL properties in Mumbai and we look forward to working closely with them for covering all their facilities across India.”
Sustainability is a prerequisite to IHCL operations and in the last four years, the Company has increased its renewable energy mix from 7% to 25%. IHCL also recently set a global benchmark in hospitality for environmental sustainability by a record-setting 78 of its hotels being awarded the EarthCheck Platinum, Gold and Silver certifications.
About Tata Power:
Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed/ managed capacity of 12,742 MW. A pioneer in the field, it has a presence across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, trading and coal & freight logistics. With nearly 2.6GW of renewable energy assets in solar and wind accounting for 30% of the company’s portfolio, Tata Power is a leader in clean energy generation. In line with the company’s view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, micro grids and home automation & smart meters. It has successful public-private partnerships in generation, transmission & distribution in India, namely ‘Tata Power Delhi Distribution Ltd.’ with Delhi Vidyut Board for distribution in North Delhi; ‘Tata Power Ajmer Distribution Ltd.’ with Ajmer Vidyut Vitran Nigam Ltd. for distribution in Ajmer; ‘Powerlinks Transmission Ltd.’ with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi; ‘Maithon Power Ltd.’ with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. On 1st June, 2020, Tata Power has formally commenced its Joint Venture with Govt of Odisha for distribution and retail supply of electricity in Odisha’s five circles consisting of Bhubaneshwar, Cuttack, Puri, Paradeep and Dhenekal. Tata Power holds 51 percent equity with management control in TP Central Odisha Distribution Limited.
With its 105 years track record of technology leadership, project execution excellence, world-class safety processes, customer care and driving green initiatives, Tata Power is poised for multi-fold growth and committed to ‘lighting up lives’ for generations to come. Visit us at: www.tatapower.com
About The Indian Hotels Company Limited (IHCL)
The Indian Hotels Company Limited (IHCL)and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj– the hallmark of iconic hospitality and India’s Strongest Brand as per Brand Finance India 100 2020 report, SeleQtions, a named collection of hotels, Vivanta, sophisticated upscale hotels and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCLhas a portfolio of 200 hotels including 42 under development globally across 4 continents, 12 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL)is South Asia’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
For further information, please contact:
Ms Rakhee Lalvani
Shalini Singh – Chief-Corporate Communications & Sustainability
The Tata Power Company Limited
Payal Tiwari & Priyanshi Shah
9930811164 & 9920368044