Tata Power, NTT Com-Netmagic Partner To Set Up A Solar Power Plant In Solapur
Tata Power Company Ltd. has partnered with NTT Com-Netmagic to build a 50 megawatt solar power plant in Solapur, Maharashtra, the Tata Group firm said Tuesday.
NTT Com-Netmagic is a managed hosting and multi-cloud hybrid information technology solution provider.
The solar power plant enables NTT Com-Netmagic to meet renewable energy needs and optimise operating costs, said Tata Power in a statement. It is aimed at reducing carbon dioxide emission at an average by about 70,000 tonne per annum, with the increased power and cooling demands of NTT Com-Netmagic’s data centres in the city.
“This is our first big initiative through a captive route and the company continues to build the foundation for a significant growth in renewables.” said Tata Power CEO Praveer Sinha.
The solar power generated by the Solapur plant will be supplied through open access under a long-term power purchase agreement, said Tata Power.
Poolavadi Windfarm Ltd., a subsidiary of Tata Power Renewable Energy Ltd., has signed definitive agreements to supply 50 MW solar power to NTT Com-Netmagic. The capacity will be built in a phased manner with an initial capacity of 35 MW increasing up to 50 MW within 24 months of initial commissioning of the plant.
“This solar project epitomises our continued commitment to ensuring sustainable development of India's digital growth story,” said Sharad Sanghi, the managing director and chief executive officer of NTT Com-Netmagic. “We have also been using renewable sources of energy, including wind and solar power plants in Bengaluru and Chennai through open access."
On Tuesday, Tata Power shares fell 0.95 percent to Rs 67.95 apiece on the BSE while the benchmark Sensex gained 0.60 percent to end the day at 39,131.04 points.