Tata Power Renewables joins hands with steelmaker Sanyo to build a captive solar facility

On Thursday, Tata Power Renewable Energy Ltd. said that it has inked a power delivery agreement with Sanyo Special Steel Manufacturing India Pvt. Ltd. (SSMI) to set up a captive solar project in Aachegaon, Maharashtra.

“The plant located at Aachegaon, Maharashtra, is to generate 61.875 MUs (million units) of electricity in a year and would supply power to Sanyo Special Steel Manufacturing located within the state," the subsidiary of Tata Power said in a statement.

The project is expected to be completed in March 2024.

“Our partnership with Sanyo Special Steel Manufacturing reflects our joint dedication to drive sustainable practices in the steel industry. 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 prioritization of captive power projects, driven by their economic and environmental merits, highlights their significance for various industries."

According to the company, the project will help lower SSMI's carbon footprint by 42,534 tonnes per year, which is in accordance with the aims of the National Green Energy Policy. 

According to the company, solar power will satisfy SSMI's green power requirements while also contributing to the United Nations Sustainable Development Goals. The Aachegaon plant has a total capacity of 120 MWp AC.

The project supports SSMI's long-term climate change strategy by reducing dependence on fossil fuel-based electricity, minimizing carbon footprint, and manufacturing green steel.

“This collaboration perfectly describes our commitment towards clean and green energy solutions, which not only aligns with our goals towards climate change and sustainable development but also significantly benefits the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing green steel," said Dilipkumar Pachpande, managing director, Sanyo Special Steel Manufacturing India.

Tata Power Renewable's capacity will increase to 7,815 MW with this capacity boost, including 3,683 MW of projects in various stages of development. The company now has a capacity of 4,132 MW, which comprises 3,139 MW of solar power and 993 MW of wind energy.

Source: Media Reports