Tata Steel to Achieve Net Zero Carbon Emissions with Massive 966 MW Hybrid Facility Backed by Tata Power
Tata Steel announces definitive agreement with Tata Power Renewable Energy to acquire 26% in TP Vardhaman Surya and source 379 MW of renewable power, contributing to a greener future.
MUMBAI – In a noteworthy step towards sustainability, Tata Steel Limited (TSL) has entered into a strategic pact with Tata Power Renewable Energy Ltd. (TPREL) and TP Vardhaman Surya Ltd. (TPVSL) to acquire 26% in TPVSL.
This is followed by a fixed-tariff long-term agreement to source 379 MW of renewable power, which will avert 50 million tons of carbon emissions over the 25-year contract period.
The landmark agreement will replace a portion of Tata Steel Jamshedpur’s current coal-based power production and meet energy requirements at its Kalinganagar and Electric Arc Furnace operations in Ludhiana, Punjab.
TPVSL has plans to establish a solar-wind hybrid renewable power plant with a capacity of roughly 966 MW. This makes it one of the largest industrial power projects under the group captive segment in India.
Dr. Praveer Sinha, the head honcho of Tata Power, opined that the round-the-clock hybrid renewable plant would significantly contribute to Tata Steel’s clean energy goals by drastically reducing carbon emissions.
T. V. Narendran, the CEO and MD of Tata Steel, stated that this alliance with TPREL is a cornerstone in Tata Steel’s roadmap towards achieving Net Zero carbon emissions by 2045.
