Tata Power Renewable Bags LOA from Tata Steel to Set Up 966 MW RTC Hybrid Renewable Power Project

Tata Power Renewable Energy Limited (TPREL) through its subsidiary TP Vardhaman Surya Limited, has bagged the Letter of Award (LOA) to establish a substantial 966 MW Round-the-clock (RTC) hybrid renewable power project for Tata Steel.  Tata Steel will hold 26% equity in this venture. The project is slated for commissioning by June 1, 2025.

This project, anticipated to be one of the largest industrial RTC power initiatives in the country, falls under the Group Captive segment. It will consist of a hybrid renewable capacity of 379 MW solar power and 587 MW wind power. 

This LOA expands TPREL’s renewable energy portfolio to a total capacity of 7,756 MW. Currently, it has 4,059 MW of installed capacity, comprising 3,107 MW from solar power and 952 MW from wind power. Additionally, TPREL has 3,697 MW under different stages of implementation, further strengthening its commitment to renewable energy generation.

Dr. Praveer Sinha, CEO & MD, Tata Power said, “Tata Power and Tata Steel are committed to jointly develop green energy solutions. The 966MW RTC (Round-the-clock) hybrid renewable power project marks a significant step towards our combined efforts to accelerate the adoption of clean and green energy to meet the net zero target”.

Mr. T. V. Narendran, CEO & MD, Tata Steel, added, “We are pleased to partner with Tata Power Renewable Energy Limited to secure a significant portion of our power requirements from renewable sources. This agreement aligns with our sustainability vision and will contribute to the reduction of carbon emissions associated with our operations. We believe that renewable energy is the future, and this partnership enables us to take one of the steps towards achieving our target of net zero by 2045.”