TPREL signs a Power Delivery Agreement with Neosym to develop a solar plant

A Power Delivery Agreement (PDA) for a 26 MW AC Group Captive Solar Plant was signed by Neosym Industry Limited (Neosym), a leading Grey & S.G. Iron casting, manufacturing company in India, and Tata Power Renewable Energy Limited (TPREL), a leading renewable energy company of India and a subsidiary of The Tata Power Company Limited. 

The project, which will begin operations in March 2024, is situated in Jamkhed, Ahmednagar, Maharashtra, and is expected to generate 59 million units of power annually. The plant is anticipated to cut annual CO2 emissions by about 32,500 tonnes. This significant decrease in greenhouse gas emissions highlights TPREL and Neosym’s shared dedication to environmental stewardship and is in line with India’s commitment to combating climate change.

Ashish Khanna, CEO, Tata Power Renewable Energy Limited, commented, “This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I consumers. The Jamkhed project is a step towards enhancing renewable energy capacity and reducing carbon emissions in the country.”

TPREL NEOSYM_EPR MAGAZINE, “Our partnership with Tata Power Renewable Energy Limited indicates a ground-breaking association in our unwavering journey towards clean and sustainable energy solutions. Our project serves as an authentication of our dedication to diminish our carbon footprint and actively contribute to India’s green energy revolution.”

As part of its plan to encourage the use of renewable energy, the government is actively promoting group captive solar projects. Projects that focus on Group Captives are more affordable, less risky, and require less investment. Businesses and communities are encouraged to increase their investments in renewable energy by incentives, subsidies, and laws like Renewable Purchase Obligations (RPOs).

TPREL is assisting a number of C&I customers from a variety of industries, including steel, automotive, polymer, hospitality, retail, and real estate, among others, to harness the power of renewable energy for environmentally friendly operations.

7,821 MW of TPREL’s total renewable energy capacity is made up of 3,689 MW of projects that are in various stages of development. The company has a 4,132 MW operational capacity, which is made up of 993 MW of wind and 3,139 MW of solar.