Tata Power to Develop 15 MW Solar Plant in Jharkhand for Tata Steel

• Tata Power has revealed that TP Saurya Limited has actually signed a PPA with Tata Steel Limited (TSL) to establish a 15 MW solar project in Jharkhand.

Tata Power, one of India's largest integrated power business, has introduced that TP Saurya Limited, a wholly-owned subsidiary of Tata Power Firm Limited, has actually signed a Power Purchase Agreement (PPA) with Tata Steel Limited (TSL) to develop a 15 MW solar project at Jamshedpur, Jharkhand.

The energy will certainly be provided to TSL under a Power Purchase Agreement (PPA) legitimate for a period of 25 years from the scheduled industrial operation day. The project is required to be appointed within 6 months from the date of implementation of the PPA.

The Plant is expected to create an average of 32 MUs of energy annually and will yearly balance out about a typical 25.8 Million Kg of CO2. With the commissioning of the project, Tata Power's eco-friendly ability will certainly raise to 4,047 MW, out of which 2,687 MW is functional and 1,360 MW is under execution consisting of 15 MW won under this PPA.

Talking on this achievement, Dr. Praveer Sinha, CEO & MD, Tata Power, said, "We are glad to work together with Tata Steel to lower their carbon footprint and reaffirm the Tata Team's commitment for sustainability. Presently the organization is restricted to Tata Steel at Jamshedpur and also we anticipate working very closely with them for covering all their other plants throughout India."

In February, Tata Power had actually revealed its results for the quarter ended December 31, 2020. Coverage a robust total efficiency, the firm highlighted its solid showing in the eco-friendly organization.

The company reported that its Q3FY21 Consolidated Revenue stood at Rs 7,740 crore as compared to Rs 7,171 crore in the matching quarter last year mainly due to the Odisha Discom purchase. The firm mentioned that in the renewables company, the firm continued its development with 30 MW included YTD FY21 with 1247 MW under construction. While EBITDA boosted to Rs 522 crore in Q3FY21 from Rs 515 crore (Q3FY20) up by 1 percent mainly due to implementation of new and also held up EPC projects.