Tata Power Renewable Energy to Set up 100 MW Captive Solar Power Plant for Stainless Steel Maker Viraj Profile
Tata Power Renewable Energy Limited (TPREL), an arm of Tata Power, has collaborated with the leading Indian stainless steel manufacturer ‘Viraj Profile Pvt Ltd’, to set up a 100 MW captive solar power plant.
September 08, 2022. By Manu Tayal
As per the agreement, the company would be developing a plant at Nandgaon at its Nasik site and would provide power to Viraj Profile’s stainless steel manufacturing plant at Tarapur for captive consumption.
Through this tie-up, Viraj would be one of the first stainless steel long products manufacturing companies in India to use solar energy to run its manufacturing plant.
With the commissioning of this plant, the company’s dependability on non-renewable power resources is likely to be reduced by approximately 50 per cent, and the project is expected to be commissioned by July 2023.
For this captive solar power plant project, TPREL has created a special purpose vehicle (SPV) namely TP Nanded Limited in order to undertake the construction, operation and maintenance work.
Commenting on the development, Ashish Khanna, CEO of Tata Power Renewable Energy Ltd, said “we are pleased to announce the establishment of our new SPV to construct a 100 MW solar power facility for Viraj Profile Private Limited. We believe that this will also inspire other energy-intensive sectors to join the movement for sustainable energy and shift their operations and services to clean energy sources. This project is another step in TPREL’s ongoing efforts to build green and renewable energy solutions throughout India.”
The plant is expected to generate about 200 MUs of energy and offset approximately 170.43 million Kg of CO2 annually. As per captive generation rules, the company would own 74 per cent of the generation while Viraj Profile would own the remaining 26 per cent.
“We are glad to partner with Tata Power. Our alliance will work as a catalyst in achieving our sustainability goals toward carbon neutrality. Viraj is one of the first stainless steel long products manufacturing companies in India, which will use solar energy to run its manufacturing plants and operations. This solar power project will supply 50% of our monthly electricity requirement,” commented J P Garg, President, Viraj Profiles Pvt Ltd.
Garg further added that “the company aims to fulfil its energy requirement completely through Green Energy in the next three years. In the first phase, Viraj will get around 100 MW of electricity, and the capacity shall increase over the next couple of years.”
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