Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has been awarded a significant contract to develop a 966 MW renewable project for Tata Steel. The project will employ the round-the-clock (RTC) hybrid renewable energy model, marking a significant milestone in India’s renewable energy sector.
Phases and Timeline: The project will be implemented in two phases, with each phase having a capacity of 483 MW. The first phase is expected to be operational by March 2025, followed by the second phase by March 2026. This staggered approach will ensure efficient project execution and timely deployment of renewable energy infrastructure.
Renewable Technologies: Under the contract, TPREL will establish a solar photovoltaic (PV) plant with a capacity of 600 MW and a wind power plant with a capacity of 266 MW. Additionally, a battery energy storage system (BESS) with a capacity of 100 MW/1,000 MWh will be integrated into the project. This combination of solar, wind, and energy storage technologies will provide a reliable and sustainable power supply.
Funding Structure: To finance the project, a mix of debt and equity will be utilized. TPREL and Tata Steel will contribute equity, while the debt component will be raised from banks and financial institutions. This funding strategy ensures the project’s financial viability and enables the successful implementation of the renewable project.
Geographical Implementation: The project will be executed across multiple states, including Gujarat, Rajasthan, and Karnataka. By leveraging favorable renewable energy resources in these regions, Tata Power and Tata Steel aim to optimize the project’s performance and generate clean energy at scale.
Emissions Reduction and Sustainability: By embracing this renewable project, Tata Steel is committed to reducing its carbon emissions by approximately 1.2 million tonnes per annum. This substantial reduction will contribute to the company’s sustainability goals and support India’s transition to a low-carbon economy.
Leaders in Renewable Energy: TPREL, with a robust portfolio of over 7 GW of renewable energy projects, is one of India’s prominent players in the renewable energy sector. Its expertise in solar, wind, and hydro projects positions the company at the forefront of the country’s renewable energy revolution.
Aligning with National Goals: The development of this renewable project aligns with Tata Power’s and Tata Steel’s shared vision to advance sustainable practices. Furthermore, it contributes significantly to India’s ambitious target of achieving 450 GW of renewable energy capacity by 2030, driving the nation’s green energy transformation.
Conclusion: Tata Power Renewable Energy’s successful bid for the 966 MW renewable project for Tata Steel marks a significant milestone in the country’s renewable energy landscape. This project, implemented in multiple phases, will leverage solar, wind, and energy storage technologies to drive clean energy production. It reinforces Tata Power and Tata Steel’s commitment to sustainability and supports India’s national goal of increasing renewable energy capacity.
