Tata Power Renewable Energy Signs PDA With Xpro India For 3.125 MW AC Group Captive Solar Plant

Tata Power Company Ltd., on Thursday, in an exchange filing announced that its subsidiary Tata Power Renewable Energy Limited (TPREL) has signed a Power Delivery Agreement (PDA) with Xpro India Limited, through a special purpose vehicle (SPV), for the development of a 3.125 MW AC Group Captive Solar Plant.

According to the filing, the SPV shall develop, operate, and maintain this captive solar power facility.

Located in Achegaon, Maharashtra, the plant is expected to produce 7.128 million units of electricity annually and will support the use of renewable energy for Xpro India's Polymer Processing Business. 161 million units of electricity will be generated during the agreement term of 25 years and will mitigate approximately 51,660 tons of carbon dioxide emissions, the company said in the filing.

With this addition, TPREL's total renewable utility capacity is 7,836 MW including 3,690 MW projects under various stages of implementation and its operational capacity is 4,146 MW, which includes 3,153 MW solar and 993 MW wind.

The shares of Tata Power closed 0.09% higher at Rs 265.05 apiece on the BSE with intraday highs and lows of Rs 267.95 and Rs 263.60, respectively. The stock gained 0.55% in 1 week, and 14.64% in 1 month. It gained 9.77% in 1 year, 364.19% in 3 years, and 248.29% in 5 years, respectively.

Speaking about the partnership, Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, "We are pleased to join hands with Xpro India Limited to establish a group captive plant for its polymer processing business. The alliance reflects our commitment to promote the adoption of renewable power in energy intensive businesses and to contribute towards the nation's clean energy transition journey."

"By sourcing clean energy through this PDA, we are moving forward towards reduced carbon emission and meeting our ESG target of protection of the environment to the extent possible," said Vinay Kumar Agarwal, President (Finance) & Chief Financial Officer, Xpro India Limited.

Tata Power Renewable Energy Limited ("TPREL") is a subsidiary of The Tata Power Company Limited and is one of the country's most significant renewable energy players. TPREL is a developer of renewable energy projects (including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage) that it owns, operates, and maintains. It also offers comprehensive green energy solutions for rural and urban areas like turnkey, EPC and O&M solutions for various business segments like utility-scale projects, solar rooftop, and solar pump systems.

Xpro India Limited is a diversified multi-divisional, multi-locational Company with a strong commitment to polymer processing as an industry, and in strong governance practices in its management. Driven by a deeply India-centric self-sufficiency for which it prides itself, Xpro enjoys a Leadership position as the only established Indian manufacturer of "Dielectric/Capacitor Films" contributing to an "Atmanirbhar" India. Xpro is also a long-established Leader in supplies of Sheets/Liners to Indian refrigerator industry.