Tata Motors Ltd. and Tata Power Renewable Energy Ltd. are planning to jointly develop a 131 MW wind-solar power plant for captive use by India's largest electric carmaker.
The location of the project wasn't disclosed.
The project is set to generate 300 million units of clean electricity annually to offset two lakh tonnes of carbon dioxide emissions by the carmaker's six manufacturing plants in Gujarat and Maharashtra, according to a company statement on Monday. A power purchase agreement has been signed to this effect.
The move ties in with Tata Motors' goal to operate on 100% renewable energy by 2030 for net-zero emissions and “environmentally responsible manufacturing”.
On Monday, Tata Motors shares rose 1.36% to Rs 629.95 apiece on the BSE even as the benchmark S&P BSE Sensex ended the day 1.09% higher at 79,408.50 points.
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