Synopsis: Tata Steel has announced its acquisition of a 26% stake in TP Vardhaman Surya Ltd, a subsidiary of Tata Power Renewable Energy Ltd, without disclosing the transaction value. The company will also source 379 MW of clean energy from Tata Power Renewable Energy Ltd. This move is a significant step in Tata Steel's sustainability journey, aligned with its goal of achieving net-zero carbon emissions by 2045.Article: Tata Steel, in conjunction with Tata Power, both esteemed members of the renowned Tata Group, embarked on an ambitious venture in October 2021. Their shared objective was to establish a grid-connected solar project in the states of Jharkhand and Odisha, solidifying their commitment to renewable energy.This collaboration was cemented through the signing of a Power Purchase Agreement spanning a robust 25-year duration, demonstrating their unwavering dedication to green energy. The ambitious 41 MW solar project encompasses various solar panel configurations, including rooftops, floating panels, and ground-mounted installations.Tata Power takes the lead in developing photovoltaic capacities for Tata Steel at two key locations: Jamshedpur, with a capacity of 21.97 MWp, and Kalinganagar, boasting 19.22 MWp. At the Jamshedpur site, Tata Power's efforts comprise 7.57 MWp capacity in rooftop PV installations, complemented by 10.80 MWp in floating solar panels and an additional 3.6 MWp in ground-mounted facilities ingeniously situated at Sonari Airport, Jamshedpur. Meanwhile, Kalinganagar's solar landscape includes 9.12 MWp of rooftop PV capacity and an impressive 10.10 MWp in floating PV installations.The projected energy generation from this comprehensive 41.19 MWp solar project is an impressive 6,02,80,095 kWh for its inaugural year. Over its commendable 25-year lifespan, it is estimated to produce a staggering total of 1,40,93,61,488 kWh. Beyond these impressive figures, the environmentally-conscious impact of this initiative is profound. The project is projected to curtail CO₂ emissions by a notable 45,210 metric tons annually and an astounding 1 million metric tons during its extended 25-year lifetime.In June 2023, Tata Power Renewable Energy, a subsidiary of Tata Power, received a Letter of Award for the establishment of a colossal 966 MW Round-the-clock hybrid renewable power project. This project's sheer magnitude is awe-inspiring, boasting a hybrid renewable capacity that includes 379 MW of solar power and an impressive 587 MW of wind power. This venture assumes paramount significance as it aims to meet a substantial portion of Tata Steel's green energy needs in India while concurrently mitigating a substantial 2.4 million metric tons of CO₂ emissions annually.Conclusion: Tata Steel's ongoing commitment to green energy and sustainability is evident through its strategic collaborations and expansion into renewable energy projects. The acquisition of a 26% stake in TP Vardhaman Surya Ltd (TPVSL) and the sourcing of 379 MW of clean energy from Tata Power Renewable Energy Ltd (TPREL) are significant steps in their journey towards achieving net-zero carbon emissions by 2045. These initiatives not only demonstrate Tata Steel's environmental responsibility but also contribute to India's green energy goals.
Synopsis: Tata Steel has announced its acquisition of a 26% stake in TP Vardhaman Surya Ltd, a subsidiary of Tata Power Renewable Energy Ltd, without disclosing the transaction value. The company will also source 379 MW of clean energy from Tata Power Renewable Energy Ltd. This move is a significant step in Tata Steel's sustainability journey, aligned with its goal of achieving net-zero carbon emissions by 2045.Article: Tata Steel, in conjunction with Tata Power, both esteemed members of the renowned Tata Group, embarked on an ambitious venture in October 2021. Their shared objective was to establish a grid-connected solar project in the states of Jharkhand and Odisha, solidifying their commitment to renewable energy.This collaboration was cemented through the signing of a Power Purchase Agreement spanning a robust 25-year duration, demonstrating their unwavering dedication to green energy. The ambitious 41 MW solar project encompasses various solar panel configurations, including rooftops, floating panels, and ground-mounted installations.Tata Power takes the lead in developing photovoltaic capacities for Tata Steel at two key locations: Jamshedpur, with a capacity of 21.97 MWp, and Kalinganagar, boasting 19.22 MWp. At the Jamshedpur site, Tata Power's efforts comprise 7.57 MWp capacity in rooftop PV installations, complemented by 10.80 MWp in floating solar panels and an additional 3.6 MWp in ground-mounted facilities ingeniously situated at Sonari Airport, Jamshedpur. Meanwhile, Kalinganagar's solar landscape includes 9.12 MWp of rooftop PV capacity and an impressive 10.10 MWp in floating PV installations.The projected energy generation from this comprehensive 41.19 MWp solar project is an impressive 6,02,80,095 kWh for its inaugural year. Over its commendable 25-year lifespan, it is estimated to produce a staggering total of 1,40,93,61,488 kWh. Beyond these impressive figures, the environmentally-conscious impact of this initiative is profound. The project is projected to curtail CO₂ emissions by a notable 45,210 metric tons annually and an astounding 1 million metric tons during its extended 25-year lifetime.In June 2023, Tata Power Renewable Energy, a subsidiary of Tata Power, received a Letter of Award for the establishment of a colossal 966 MW Round-the-clock hybrid renewable power project. This project's sheer magnitude is awe-inspiring, boasting a hybrid renewable capacity that includes 379 MW of solar power and an impressive 587 MW of wind power. This venture assumes paramount significance as it aims to meet a substantial portion of Tata Steel's green energy needs in India while concurrently mitigating a substantial 2.4 million metric tons of CO₂ emissions annually.Conclusion: Tata Steel's ongoing commitment to green energy and sustainability is evident through its strategic collaborations and expansion into renewable energy projects. The acquisition of a 26% stake in TP Vardhaman Surya Ltd (TPVSL) and the sourcing of 379 MW of clean energy from Tata Power Renewable Energy Ltd (TPREL) are significant steps in their journey towards achieving net-zero carbon emissions by 2045. These initiatives not only demonstrate Tata Steel's environmental responsibility but also contribute to India's green energy goals.
