Tata Power to invest Rs 550cr in solar, wind capacities

PTI New Delhi: Tata Power will invest Rs 550 crore to develop solar and wind power capacities and related infrastructure to supply clean energy to Noida International Airport (NIA), a statement said. Tata Power has signed two power purchase agreements with the upcoming Noida International Airport project in Uttar Pradesh. "Tata Power has entered into a strategic partnership for RE integration with Noida International Airport (NIA).

Tata Power will invest Rs 550 crore (USD 66 million) in solar and wind power supply, and the development of critical dry utilities and smart energy infrastructure," the company said in a statement. Under the arrangement, Tata Power's arm Tata Power Trading Company Ltd (TPTCL) will supply 10.8 MW of wind power to the airport with secured assets from Tata Power Renewable Energy Ltd (TPREL). TPREL will also develop, operate, and maintain a 13 MW onsite solar power capacity to contribute to the airport's overall energy needs.

Tata Power CEO & MD Praveer Sinha said, this collaboration will support development of Net Zero Airports, catering to millions of Indians, accelerating the country's path towards a greener future." The first phase of Noida International Airport, featuring one runway and one terminal, will have the capacity to handle traffic of 12 million passengers annually