News

Tata Power Allocates Rs 500 Cr for Renewable Energy Projects at Noida International Airport.

Economy Business | Dated: 27 Nov 2024

Mumbai (Maharashtra) based Tata Power Company Limited has partnered with Uttar Pradesh based Noida International Airport (NIA) to invest Rs 550 crore (USD 66 million) to develop solar and wind power capacities and to supply clean energy to NIA.

🎯 Key Highlights:

- Tata Power and NIA have signed two Power Purchase Agreements (PPAs) in New Delhi (Delhi) in the presence of Sanjay Banga, President of Transmission and Distribution at Tata Power, and Christoph Schnellmann, Chief Executive Officer (CEO) of Noida International Airport.
- Under this partnership, Tata Power's arm Tata Power Trading Company Ltd (TPTCL) will supply 10.8 Megawatt (MW) of wind power to the airport with secured assets from Tata Power Renewable Energy Ltd (TPREL).

💡 Other Important Facts:

(i) TPREL will also develop, operate, and maintain a 13 MW onsite solar power capacity to contribute to the airport's overall energy needs.
(ii) The 25-year partnership supports the development of Net Zero Airports.

📚 Test Your Knowledge:

Recently, Tata Power invested how much amount in Noida International Airport for renewable energy projects?

Correct Answer: Rs 500 crore

🚀 Quick Recap:

About Tata Power Company Limited

CEO: Praveer Sinha
Headquarter: Mumbai