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Tata Power Partners with Noida Airport for ₹550 Cr Renewable Energy Project

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Synopsis:

Tata Power commits ₹550 crore to supply Noida International Airport with 13MW of solar and 10.8MW of wind power, enhancing sustainable energy use and positively impacting Tata Power share price.

Tata Power news today

Tata Power and Noida International Airport Limited (NIAL) have formalised a comprehensive agreement to power the upcoming Noida International Airport with renewable energy, involving a significant investment of ₹550 crore. This partnership aims to set a benchmark in sustainable aviation infrastructure by combining solar and wind power sources to support the airport’s operations, scheduled to commence on April 17, 2025. This renewable energy collaboration is anticipated to provide long-term growth support for Tata Power share price.

TATA POWER CO LTD

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Updated - 12 November 2024
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Key takeaways:

  • Tata Power’s ₹550 crore investment will supply 13MW of solar and 10.8MW of wind power to Noida International Airport.

  • Tata Power will manage operations and maintenance of this energy infrastructure for 25 years.

  • NIAL’s commitment to renewable energy is set to meet more than half of the airport’s initial energy needs sustainably.

Also Read: Mahindra & Mahindra Raises FY25 Tractor Growth Forecast Amid Strong Q2 Results.

Renewable energy capacity and infrastructure

Tata Power Renewable Energy Limited (TPREL), a Tata Power subsidiary, is set to establish a 13MW solar power installation on-site at Noida International Airport. Additionally, TPREL will provide 10.8MW of wind power from its existing assets, ensuring a steady supply of clean energy to the airport. This power purchase agreement (PPA) with Noida Airport marks Tata Power’s ambitious contribution to environmentally conscious infrastructure, which will likely reflect positively on Tata Power share price due to its alignment with India’s renewable energy goals.

Also Read: MOIL Achieves Record October Production with 1.47 Lakh Tonnes, Up 32% YoY

Tata Power’s 25-year commitment to infrastructure management

As part of this initiative, Tata Power will handle the development, operation, and maintenance of critical dry utilities and electrical infrastructure to meet the airport’s renewable energy requirements. The agreement includes a 25-year term for Tata Power’s provision of ongoing maintenance, ensuring a seamless, uninterrupted power supply. This extended commitment demonstrates Tata Power’s focus on long-term infrastructure projects, potentially bolstering its market performance and influencing Tata Power share price.

Also Read: Fed Cuts Rate by 25 Bps to 4.5-4.75% to Support Cooling Economy.

Project details

Metrics

Values

Total Investment

₹550 crore

Solar Power Capacity

13MW

Wind Power Capacity

10.8MW

Maintenance Duration

25 years

Airport Passenger Capacity (Phase 1)

12 million

Full Development Capacity

70 million (after four phases)

Noida International Airport’s green commitment

Noida International Airport is designed to be a leader in sustainable airport operations. With one runway and a terminal set to handle 12 million passengers annually in its first phase, the airport plans to scale up to a 70 million passenger capacity upon completing four development phases. This renewable energy partnership is aligned with NIAL’s commitment to sustainable practices, meeting over half of its energy needs with renewable sources.

Tata Power’s investment in Noida International Airport’s renewable energy infrastructure underscores its commitment to sustainable development, potentially boosting Tata Power share price as the project progresses. This partnership is anticipated to set new standards for green energy use in the aviation sector.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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