Tata Power Renewable Energy Ltd (TPREL), a subsidiary of The Tata Power Company Ltd, on Monday (September 4) has inked a power delivery agreement with Neosym Industry Ltd (Neosym) in a win for climate action. The agreement outlines plans for a 26-MW AC Group captive solar plant, to be established in Jamkhed, Ahmednagar, Maharashtra, according to a stock exchange filing.

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Anticipated to commence operation in March, 2024, the project holds the promise of generating approximately 59 million units of electricity annually, the company said.

Beyond its energy output, this solar plant is poised to make a substantial impact in the battle against climate change. It is estimated that the facility will curtail approximately 32,500 tonnes of CO2 emissions each year.

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Ashish Khanna, CEO of Tata Power Renewable Energy, explained the significance of this partnership, "This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I (commercial and industrial) consumers. The Jamkhed project is a step towards enhancing renewable energy capacity and reducing carbon emissions in the country."

Vinay Mohta, General Manager, Commercial, at Neosym Industry, echoed this sentiment. He said, "Our partnership with Tata Power Renewable Energy indicates a ground-breaking association in our unwavering journey towards clean and sustainable energy solutions.

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Shares of Tata Power Company Ltd ended at Rs 259.10, up by Rs 3.75, or 1.47 percent on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Sept 4, 2023 7:34 PM IST