TPREL (Tata Power Renewable Energy Limited) plans to build a 26-MW captive solar plant in Ahmednagar, Maharashtra. The company stated that it has already signed a power delivery agreement (PDA) with Neosym Industry Limited (Neosym), a leading Grey & S.G. iron casting, manufacturing company, in this regard.

The PDA is for a captive solar plant of 26 MW for the AC group, according to Tata Power.

The project is expected to produce 59 million units of electricity per year. It is scheduled to begin in March 2024 and will reduce 32,500 tonnes of CO2 emissions per year.

"This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I consumers," said Ashish Khanna, CEO of Tata Power Renewable Energy Limited. The project is a step towards increasing renewable energy capacity and lowering the country's carbon footprint."

The most recent order comes on the heels of a 28.12-megawatt green energy plant for Sanyo Special Steel Manufacturing India Private Limited (SSMI) and a 6-MW captive solar plant for Chalet Hotels in Maharashtra.

The company provided no financial information about the project. According to industry estimates, the capital required to set up 1 MW of solar energy capacity is Rs 5-6 crore.