Tata Power Renewable Energy Ltd’s shares were up 2.18 per cent at Rs 338 at 3.15 pm on the BSE, after it finalised a Power Delivery Agreement (PDA) with the Dr. Abhay Firodia Group of Companies, encompassing Force Motors Ltd and Jaya Hind Industries Pvt Ltd. The agreement is for supply of green power for 25 years under the Group Captive scheme.
Force Motors Ltd, a vertically integrated automobile company, will utilise 6.2 MW AC power, consuming 13.64 Million Units (MUs) annually. Meanwhile, Jaya Hind Industries Pvt Ltd will utilise 7 MW AC power, consuming 15.40 MUs annually.
The group captive solar plant, situated in Achegaon, Maharashtra, has 13.2 MW of AC capacity and is projected to generate 29.04 MUs of power annually, reducing carbon emissions by an estimated 21,200 tonnes annually.
Deepesh Nanda, CEO & MD, Tata Power Renewable Energy Ltd, said, “This alliance reiterates our commitment to provide customised sustainable energy solutions for industries. It will set new benchmarks in the automotive sector towards adoption of clean energy.”