Tata Motors seals solar PPA to supply Indian car plant
The signing of the solar PPA in Pune. Source: Tata Motors Ltd.
Indian carmaker Tata Motors Ltd (BOM:500570) has entered into a power purchase agreement (PPA) with Tata Power Co Ltd (BOM:500400) for the output of a 3-MWp solar array that will be installed on the rooftop of a factory in the state of Maharashtra.
To be more specific, the new solar power system will be deployed on top of Tata Motors’ Passenger Vehicle Business Unit (PVBU) plant in Pune. The facility is estimated to produce almost 4.5 million kWh of electricity per year once up and running.
Tata Motors wants to source 100% renewable energy by the end of the decade. In fiscal year 2021, its car plants in Pune and Sanand generated or sourced a total of 26.10 million kWh of renewable power, which equals 25% of the company’s total power usage.