TP Vardhaman Surya Limited (TPVSL), a wholly-own subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced to set up 966 MW solar-wind hybrid plant under the group captive mode. The hybrid plant will be utilised to deliver round-the-clock renewable power to Tata Steel Limited’s Kalinganagar and the electric arc furnace project at Ludhiana, Punjab.
Tata Steel Limited is set to formalise agreements with TPREL and TPVSL for the acquisition of a 26 per cent stake in TPVSL. Additionally, Tata Steel will establish a fixed-tariff long-term arrangement with TPVSL to procure power from 379 MW renewable project. This will result in a reduction of 50 million tonnes of emissions over the 25-year contract duration.
Recently, in October 2023, TPREL and Endurance Technologies signed a power delivery agreement, for setting up 12.5 MW AC captive solar facility at Aachegaon in Maharashtra.
In September 2023, TPREL signed a power supply agreement with Chalet Hotels Limited for a group captive plant with a capacity of 6 MW AC.