Tata Power Renewable Energy adds 1.4 GW in group captive projects in last 6 months

Tata Power Renewable Energy Ltd (TPREL) on Monday said it has added 1.4 GW group captive projects to its portfolio in the last six months in India.

With the addition of these group captive projects, TPREL said its overall renewables capacity reached 7,961 MW as of October 2023, a company statement said. The portfolio comprises 3,755 MW projects in different phases of development, it added.

Its operating 4,206 MW capacity includes 3,200 MW in solar projects and 1,006 MW in wind projects. TPREL has added 1.4 GW capacity of group captive projects in the last six months (June-November), the statement stated.

This achievement is the result of the signing of Power Delivery Agreements (PDA) with various industries across segments, it explained.

Some of the prominent group captive projects that TPREL has signed include collaborations with Tata Steel, Tata Motors, Mukand Limited (a Bajaj Group company), and Sanyo Special Steel Manufacturing India Pvt, among others.

TPREL CEO and MD Deepesh Nanda said, "This achievement represents our shared journey towards a greener, more sustainable future".

A subsidiary of Tata Power, TPREL is a leading developer of renewable energy projects (including solar, wind, hybrid, round-the-clock, peak, floating solar, and storage systems, including battery storage) that it owns, operates, and maintains.

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