Tata Power Renewable Energy Ltd. on Thursday stated that it has signed a power delivery agreement with Sanyo Special Steel Manufacturing India Pvt. Ltd. (SSMI) to set up a captive solar plant in Aachegaon, Maharashtra.
“The plant located at Aachegaon, Maharashtra, is to generate 61.875 MUs (million units) of electricity in a year and would supply power to Sanyo Special Steel Manufacturing located within the state,” the subsidiary of Tata Power said in a statement.
The project will likely be commissioned by March 2024.
“Our partnership with Sanyo Special Steel Manufacturing reflects our joint dedication to drive sustainable practices in the steel industry. These initiatives yield advantages like cost reduction, lower emissions, enhanced energy security, and alignment with sustainability targets. The government’s prioritization of captive power projects, driven by their economic and environmental merits, highlights their significance for various industries,” said Ashish Khanna, CEO of Tata Power Renewable Energy.
The project is in line with the objectives of the National Green Energy Policy, as it will help reduce SSMI’s carbon footprint by 42,534 tonnes annually.
The solar power will meet SSMI’s green power requirements and contribute towards United Nations Sustainable Development Goals, the company added. The overall capacity of the Aachegaon facility is 120 MWp AC.
This project aligns with SSMI’s long-term strategy towards climate change by reducing dependency on fossil fuel-based energy, lowering the carbon footprint, and manufacturing green steel.
“This collaboration perfectly describes our commitment towards clean and green energy solutions, which not only aligns with our goals towards climate change and sustainable development but also significantly benefits the steel manufacturing unit by reducing CO2 emissions and costs, enhancing sustainability, and contributing to carbon neutral goals by producing green steel,” said Dilipkumar Pachpande, managing director, Sanyo Special Steel Manufacturing India.