Tata Power, Tata Motors ink pact to co-develop 131 MW wind-solar hybrid renewable energy project

Tata Power, on Monday, April 21, announced that its subsidiary Tata Power Renewable Energy Limited (TPREL) and Tata Motors signed a power purchase agreement (PPA) to co-develop a 131 MW wind-solar hybrid renewable energy project.

The 131 MW wind-solar hybrid energy project will provide “green, cost-effective energy” exclusively to Tata Motors’ six manufacturing facilities in Maharashtra and Gujarat, supporting the production of both commercial and passenger vehicles, the company said.

The integrated wind-solar hybrid power plant will be financed via co-investment from Tata Power and Tata Motors and a long-term PPA.

The project is expected to generate about 300 million units of clean electricity annually and is projected to offset two lakh tons of CO2 emissions each year, Tata Power said in a regulatory filing.

“This initiative significantly advances Tata Motors’ clean energy transition for achieving its RE-100 commitment ahead of the 2030 target and accelerates meaningful progress toward climate-resilient operations,” the filing stated.

Tata Power added that the project also marks a major milestone in the auto manufacturer’s sustainability roadmap, aligning with its broader ambition to achieve net-zero emissions and lead the shift towards environmentally responsible manufacturing.

Shares of Tata Power closed in the green at ₹390.85 apiece, up 2.40% on the National Stock Exchange (NSE) on Monday. However, the company announced the agreement after market hours.

The stock gained 4.73% over the last week and 4.12% since the beginning of April. The scrip slumped 0.40% on a year-to-date basis.

The scrip hit a 52-week low of ₹326.35 on February 17, 2025, and a high of ₹494.85 on September 27, 2024.

Tata Power has a total market capitalisation of ₹1.25 lakh crore as of April 21, 2025, on the NSE. Tata Motors shares closed 1.37% higher at ₹630.05 apiece on the NSE on April 21.