Tata Power Renewable Energy Limited (TPREL), a prominent player in the renewable energy sector and a subsidiary of Tata Power, has entered into a Power Delivery Agreement (PDA) with Xpro India Limited through an SPV. This agreement is for the establishment of a 3.125 MW AC Group Captive Solar Plant. The SPV will be responsible for the development, operation, and maintenance of this captive solar power facility.
Situated in Achegaon, Maharashtra, this plant is expected to generate approximately 7.128 million units of electricity annually. Its primary purpose is to provide renewable energy support for Xpro India’s Polymer Processing Business. Over the 25-year agreement term, this initiative is projected to produce 161 million units of electricity, contributing significantly to the reduction of approximately 51,660 tons of carbon dioxide emissions.
Speaking about the development, Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, stated, “We are pleased to join hands with Xpro India Limited to establish a group captive plant for its polymer processing business. The alliance reflects our commitment to promote the adoption of renewable power in energy intensive businesses and to contribute towards the nation’s clean energy transition journey.” We believe that this collaboration with TPREL is a significant step in our sustainability journey.”
Mr. Vinay Kumar Agarwal, President (Finance) & Chief Financial Officer, Xpro India Limited added, “By sourcing clean energy through this PDA, we are moving forward towards reduced carbon emission and meeting our ESG target of protection of the environment to the extent possible.”
Group captive projects present a significant advantage: they offer a consistent tariff throughout the duration of the Power Delivery Agreement (PDA), and remain unimpacted by any regulatory fluctuations that usually mpact short-term contracts.
TPREL recently inked a PDA with Sanyo Special Steel Manufacturing India Pvt. Ltd. for a Captive Solar Plant boasting a capacity of 28.125 megawatts (AC). Additionally, TPREL secured a Captive PDA for 4.4 megawatts (AC) with the ANAND Group, a global leader in the automotive systems and parts industry. These developments have propelled TPREL’s total renewable utility capacity to an impressive 7,836 MW, encompassing projects at various implementation stages, while its operational capacity stands at 4,146 MW. Within this operational capacity, 3,153 MW is attributed to solar energy, with the remaining 993 MW derived from wind power sources.
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