Tata Power Renewable Energy (TPRL) on Monday said it has signed a Power Delivery Agreement (PDA) with Neosym Industry for a 26 megawatt (MW) AC group captive solar plant.
The project, located at Jamkhed, Ahmednagar in Maharashtra with an anticipated electricity generation capacity of 59 million units (MU) annually will start in March 2024, the company, a subsidiary of Tata Power, said.
The plant is expected to reduce around 32,500 tonnes of CO2 emissions annually. This substantial reduction in greenhouse gas emissions aligns with India’s commitment to combat climate change and underscores TPREL and Neosym’s joint commitment to environmental stewardship, it added.
The government is actively promoting group captive solar projects as part of its strategy to boost renewable energy adoption. Emphasizing Group Captive projects, require limited investment and pose less risk. Incentives, subsidies, and mandates like Renewable Purchase Obligations (RPOs) encourage businesses and communities to invest more in sustainable energy.
TPREL is supporting several commercial & industrial (C&I) consumers across the industrial spectrum viz Steel, Automotive, Polymer, Hospitality, Retail, Realty to harness the power of renewable energy for sustainable operations.