Tata Power Company and Tata Motors have entered into a power purchase agreement (PPA) for a 7 megawatt (MW) captive solar power project at the vehicle maker's Pantnagar plant in Uttarakhand.
Collectively, this installation is expected to generate 215 million units of electricity, potentially mitigating over 1.7 lakh tonnes of carbon emissions. This is equivalent to planting over 2.72 lakh teak trees over a lifetime, the company stated.
Anal Vijay Singh, Plant Head, Pantnagar Plant, Tata Motors, said, "Having won several awards, our Pantnagar plant has always been lauded for its efforts to reduce greenhouse gas emissions in order to achieve net-zero emission goal. The plant has been recognized across the industry for its long-successful energy conservation measures. With this agreement, we will further strengthen our journey towards a cleaner and greener future."
Commenting on the announcement, Shivram Bikkina, Chief - Solar Rooftop Business, Tata Power, "We are delighted to partner with Tata Motors to achieve their long-term green energy mandate. We are especially happy to be a part of the Pantnagar plant that makes Tata Ace, one of the most successful commercial vehicles of the country. We expect to expand our collaboration in the coming years to provide more such green energy solutions to Tata Motors and regard them as a vital partner to achieve the larger group mandate to reduce our carbon footprint towards a Net Zero future."
Tata Power said that it is working closely with Tata Motors on installing solar rooftop projects at some of their plants in India. These projects represent a significant step towards building a resilient and sustainable future for these manufacturing plants. To date, Tata Power has cumulatively installed 45 MW of solar rooftop across Tata Motors' PV and CV plants in Pune, Pantnagar, Jamshedpur and Dharwar.
Tata Motors, as a signatory to the RE100, is committed to using 100 percent renewable energy in its operations and has taken many steps toward this objective by gradually increasing the proportion of renewable energy used in its operations. The company also plans to obtain renewable energy with greater rigour to reach its goal of procuring 100% renewable energy by 2030. In FY22, across all its plants in India, the company generated 92.39 million kWh of renewable electricity for its manufacturing operations, which is 19.4% of the total power consumption, leading to an avoidance of 72,992 metric tonnes of carbon dioxide equivalent and financial saving of Rs 27.37 crore.
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors' vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.
Tata Power is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,749 MW. The company has a presence across the entire power value chain - generation via renewables as well as conventional power including hydro and thermal energy; transmission & distribution, coal & freight, logistics, and trading.
Shares of Tata Power Company declined 0.64% to Rs 216.55 while those of Tata Motors shed 0.01% to Rs 396.45 on the BSE.
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