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Tata Steel to Procure Round-the-Clock Renewable Power:TPREL
2023-06-14
A letter of award (LOA) has been given to Tata electricity Renewable Energy (IPREL), the company's renewable energy division, to install 966 MW of round-the-clock (RTC) solar-wind hybrid electricity for Tata Steel at a few Indian steel facilities.The project, which will have 379 MW of solar electricity and 587 MW of wind power, will be online on June 1, 2025.
With Tata Steel contributing 26% of the project's equity, the RTC power purchase agreement will be carried out under the group captive sector.
According to a statement from the firm, TPREL will establish the project through its subsidiary TP Vardhaman Surya. The hybrid project will reduce annual carbon emissions by 2,389,160 tonnes and meet a sizable portion of Tata Steel's green energy needs in India.
The business withheld information about the RTC project's location and the Tata Steel units that will profit from it.
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