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Tata Power Renewable Energy Ltd. (TPREL) is set to develop a landmark 966-MW hybrid renewable power project for Tata Steel, marking one of India's most extensive industrial round-the-clock power purchase agreements. The venture, aiming for a June 2025 commission, accelerates Tata Steel's stride towards achieving net-zero emissions by 2045.
The project, which will be commissioned by June 1, 2025, will consist of 587 MW of wind and 379 MW of solar power capacity. The deal is described as one of India's largest industrial round-the-clock power purchase agreements (PPAs) under the group captive regime. Tata Steel, which will contribute 26% of the equity for the project, is targeting net zero by 2045.
The project increases TPREL's portfolio to 7,756 MW, with 4,059 MW already in operation, including 3,107 MW solar and 952 MW wind, and 3,697 MW at different stages of implementation.
TPREL. also recently signed a 25-year renewable Power Consumption Agreement to supply the power needs of Princeton Digital Group's 48MW MU1 data center in Airoli, Mumbai.
The deal calls for the first phase of the data center to receive power from a solar project in Maharashtra jointly funded by Princeton Digital and TPREL Solar power generation from the project will commence in stages beginning June 1, 2023.
Princeton Digital aims to power its data center with up to 50% renewable energy, following the company's goals of sustainability and digital decarbonization.
Meanwhile, TPREL has commissioned a 110MW solar PV plant in Rajasthan to supply power to the Kerala State Electricity State Board. The project, which was completed in seven months and was one of the fastest commissioned in Rajasthan, brings TPREL installed solar PV capacity to over 3.1GW. The company also has another 2.7GW of renewable projects under various implementation stages.
