+
Tata Power to set up solar plant at Solapur site to power CEAT facility
POWER & RENEWABLE ENERGY

Tata Power to set up solar plant at Solapur site to power CEAT facility

Tata Power will set up a 10 MW captive solar plant at its Solapur facility, which will power CEAT’s tyre manufacturing facility in Bhandup, Mumbai.

CEAT informed the media that Tata Power has formed a special purpose vehicle (SPV)—TP Akkalkot Renewable Ltd—which will take up the construction, operation and maintenance of the solar power plant.

CEAT will own a 26% stake in the SPV, while Tata power will hold 74%, according to the captive generation rules, it said.

The company said that the power produced would be utilised for captive consumption by CEAT's Bhandup plant. Additionally, the plant is anticipated to generate about 21 million units of energy per year and will yearly offset about 17.43 million kg of carbon dioxide.

Kumar Subbiah, Chief Financial Officer, CEAT, told the media that the partnership with Tata Power for setting up a solar power generation plant in Maharashtra implies their continued commitment towards a shift to sustainable energy.

The company said that the installation of the 10 MW captive solar plant will not only lessen CEAT's dependency on non-renewable energy but will also be a notable milestone in the company's aim towards carbon neutrality.

Image Source


Also read: Azure Power, Tata Power win wind-solar hybrid auction in Maharashtra

Also read: ACME, ReNew win 500 MW solar project in Maharashtra

Tata Power will set up a 10 MW captive solar plant at its Solapur facility, which will power CEAT’s tyre manufacturing facility in Bhandup, Mumbai. CEAT informed the media that Tata Power has formed a special purpose vehicle (SPV)—TP Akkalkot Renewable Ltd—which will take up the construction, operation and maintenance of the solar power plant. CEAT will own a 26% stake in the SPV, while Tata power will hold 74%, according to the captive generation rules, it said. The company said that the power produced would be utilised for captive consumption by CEAT's Bhandup plant. Additionally, the plant is anticipated to generate about 21 million units of energy per year and will yearly offset about 17.43 million kg of carbon dioxide. Kumar Subbiah, Chief Financial Officer, CEAT, told the media that the partnership with Tata Power for setting up a solar power generation plant in Maharashtra implies their continued commitment towards a shift to sustainable energy. The company said that the installation of the 10 MW captive solar plant will not only lessen CEAT's dependency on non-renewable energy but will also be a notable milestone in the company's aim towards carbon neutrality. Image Source Also read: Azure Power, Tata Power win wind-solar hybrid auction in Maharashtra Also read: ACME, ReNew win 500 MW solar project in Maharashtra

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?