Sanyo Special Steel’s green energy partnership with Tata Power Renewable Energy

Sanyo Special Steel Manufacturing India Pvt. Ltd. (SSMI) receives power from the plant in Aachegaon, Maharashtra, which produces 61.875 MUs of energy annually. This facility’s solar energy will help SSMI achieve sustainable growth by lowering its annual carbon footprint by 42,534 tonnes.

A Power Delivery Agreement (PDA) was signed by Tata Power Renewable Energy Limited (TPREL), a major player in the renewable energy industry, and Sanyo Special Steel Manufacturing India Pvt. Ltd. for a captive solar plant with a capacity of 28.125 MW (AC) (i.e. 39.375 MWp DC) in Aachegaon, Dist. Solapur, Maharashtra. The solar plant is expected to generate 61 GWh of electricity annually.

120 MWp AC is the facility’s maximum capacity overall in Aachegaon. According to the agreement, the project will be started in March 2024. In addition to helping to achieve UN Sustainable Development Goals, this solar electricity will satisfy SSMI green power criteria.

SSMI’s carbon footprint will be reduced by 42,534 tonnes annually thanks to the utilisation of solar energy from this installation (reduction of carbon dioxide (CO2) emissions by 42,534 tonnes annually). By decreasing reliance on fossil fuel-based energy, reducing the carbon footprint, and producing green steel, this project is in line with SSMI’s long-term strategy against climate change.

The project emphasises India’s commitment to promoting a clean energy environment and is in keeping with the goals of the National Green Energy policy.

Ashish Khanna, CEO of Tata Power Renewable Energy Limited, said the following about the partnership, “Our partnership with Sanyo Special Steel Manufacturing India Pvt. Ltd. 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. The government’s prioritisation of captive power projects, driven by their economic and environmental merits, highlights their significance for various industries.”

Dilipkumar Pachpande, Managing Director of Sanyo Special Steel Manufacturing India Pvt. Ltd., added. “We are pleased to join hands with TP Alpha Limited (SPV) a subsidiary of Tata Power Renewable Energy Limited to secure a significant portion of our power requirement through renewable sources which is aligned with our sustainability vision. 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”. We are proud that together we are making a positive impact towards sustainable development. This is a significant step towards our long-term strategy towards sustainable development. We look forward to making the most of this association and fetch maximum benefit for the environment as well as for all our stakeholders.”

One of the largest industrial Round-The-Clock (RTC) power purchase agreements in the group captive section of the market was acquired earlier by TPREL with a Letter of Award (LoA) for a 966-MWRTC hybrid project.

As a result of the capacity expansion of this project, TPREL now has a total renewable energy capacity of 7,815 MW, comprising 3,683 MW of projects that are in various phases of completion. Its operational capacity is 4,132 MW, which includes 3,139 MW of solar and 993 MW of wind energy.