Tata Power Renewable Energy Limited and NHPC Renewable Energy Limited Ink MoU for Ambitious Solar Initiative for Government Buildings

by EnergyLatest Updates

Tata Power Renewable Energy Limited (TPREL), a key player in India’s renewable energy landscape and a subsidiary of The Tata Power Company Limited, is pleased to announce the signing of a Memorandum of Understanding (MoU) with NHPC Renewable Energy Limited (NHPC-REL) to spearhead the installation of Rooftop Solar Projects (RTS Projects) across government buildings of Central Ministries, States, and Union Territories. This initiative, under the ambitious PM Surya Ghar Yojna Scheme, aims for 100% solarization of government-owned buildings by December 2025.

This powerful alliance is set to support the transformation of India’s energy landscape by harnessing the untapped potential of rooftop spaces on government buildings, fostering a cleaner and greener future. The Memorandum of Understanding (MOU) was signed on July 17, 2024, at the NHPC Office Complex in Faridabad. Key signatories included Sh. Deepesh Nanda, CEO & MD of TPREL, and Sh. S.P. Rathour, CEO of NHPC-REL. The signing was witnessed by notable officials including Sh. R.P. Goyal, CMD, Sh. R.K. Chaudhary, Director (Technical) and i/c of Director (Projects), Sh. Uttam Lal, Director (Personnel), Sh. V.R. Shrivastava, ED (REGH) from NHPC, alongside Shri Bhavesh Bhayani and Shri Vikrant Dhankar from TPREL.

The Ministry of New and Renewable Energy (MNRE) has appointed NHPC Limited as a Scheme Implementing Partner (SIP) to drive the RTS Projects, which will be carried out by its wholly-owned subsidiary, NHPC-REL. TPREL, a distinguished leader in the solar energy sector, brings extensive expertise to ensure the seamless and timely execution of these projects.

Mr. Deepesh Nanda, CEO & MD of Tata Power Renewable Energy Limited commented, “We are excited to join hands with NHPC-REL in this significant venture to solarize government buildings across India. This collaboration represents a major step forward in our shared vision of a sustainable and green energy future. By leveraging our combined strengths, we are confident in achieving our goal of 100% solarisation by 2025, setting a benchmark for renewable energy projects in the country.”

Mr. R. P. Goyal, CMD NHPC added, “Partnering with Tata Power Renewables aligns perfectly with our mission to expand the use of renewable energy in India. This initiative will not only help us meet our solarisation targets but also contribute significantly to reducing the carbon footprint of government buildings. We look forward to a successful collaboration that paves the way for more sustainable energy solutions.”

This partnership embodies a mutual commitment to sustainability and innovation in the renewable energy domain. By combining forces, TPREL and NHPC-REL are poised to make significant strides toward India’s renewable energy objectives, setting new standards for future endeavours in the industry.

About Tata Power:
Tata Power is a leading integrated power company and a part of Tata Group, India’s largest multi-national business conglomerate. The company has a diversified portfolio of 14,453 MW, spanning across the entire power value chain – from renewable and conventional energy generation to transmission & distribution, trading, storage solutions and solar cells and module manufacturing. As a pioneer of clean energy transition in India, Tata Power has 5,593 MW of clean energy generation, which constitutes 39% of its total capacity. The company has also committed to achieve carbon neutrality before 2045.Tata Power has established India’s most comprehensive clean energy platform, with offerings such as rooftop solar, microgrids, storage solutions, EV charging infrastructure, home automation et al. The company has also attracted global investors to support its growth and vision. Tata Power has successfully partnered with public and private entities in generation, transmission & distribution sectors in India, serving approx.13 million customers across the country.

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EMPOWERING INDIA’S FUTURE |THE REMARKABLE JOURNEY OF SJVN LIMITED AND AKHILESHWAR SINGH

by EnergyLatest UpdatesMirabilia Icons

SJVN Limited, a prominent player in India’s power generation industry, has been a beacon of sustainable energy since its inception on May 24, 1988. Established as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has evolved into a listed company with a robust shareholder base. Currently, the company’s ownership stands at 59.92% with the Government of India, 26.85% with the Government of Himachal Pradesh, and the remaining 13.23% held by the public. With a paid-up capital of Rs. 3,929.80 Crore and an authorized capital of Rs. 7,000 Crore, SJVN boasts a substantial net worth of Rs. 13,821.97 Crore as of March 31, 2023.

Akhileshwar Singh, the Director of Finance at SJVNL Limited, is a pivotal figure in the company’s journey. With 35 years of experience as a pioneering advocate for solar energy, Singh has played a crucial role in SJVN’s success story.

Diverse Portfolio and Green Initiatives

SJVN Limited is primarily engaged in the business of electricity generation and tariff regulation. The company offers a diverse range of products and services, including electricity generation from hydro, wind, and solar sources, consultancy services, and power transmission. Its operations encompass thermal power, hydro power, wind power, solar power, power transmission, consultancy, and power trading.

Recently, SJVN Green Energy secured a Letter of Awards from the Assam Power Development Corporation (APDCL) for three solar power projects, totaling 320 MW in capacity. These projects are expected to generate a cumulative 628 million units in their first year of operation and approximately 14,591 million units over 25 years. With an estimated construction cost of Rs. 1,900 Crores, the projects are scheduled to be commissioned by March 2025. The commissioning of these projects will contribute significantly to reducing carbon emissions by 7.14 lakh tonnes, aligning with the government’s mission to combat climate change.

A Vision for the Future

SJVN Limited has set ambitious goals for the future, driven by its vision to become a globally admired Indian Power Company known for delivering affordable clean power and sustainable value to all stakeholders. With a mission focused on socio-economic growth and optimizing shareholders’ and stakeholders’ interests, SJVN aims to achieve a remarkable milestone: a 50,000 MW installed capacity by 2040.

Akhileshwar Singh emphasized the company’s commitment to aligning with the Honorable Prime Minister’s vision of generating 500 GW from non-fossil sources by 2030. Under the dynamic leadership of Sh. Nand Lal Sharma, SJVN has re-engineered its business model, setting targets of 5,000 MW by 2023, 25,000 MW by 2030, and the ultimate goal of 50,000 MW by 2040.

Investing in the Future

SJVN’s commitment extends to harnessing energy in Uttar Pradesh, with plans to invest around Rs. 30,000 to 35,000 crore in the next 5-6 years. This strategic investment is poised to make a substantial impact on the energy landscape of the state and further propel SJVN’s mission of providing clean and affordable power to the nation.

The Journey of Akhileshwar Singh

Akhileshwar Singh’s journey to becoming the Director of Finance at SJVN Limited is nothing short of inspiring. Starting his career in 1987 with Hindustan Paper Corporation Limited, he joined SJVN in 1993 as a Senior Finance Officer. His remarkable ascent through the ranks, from Assistant Manager to Head of Internal Audit, culminated in his appointment as Director of Finance in 2020. Singh’s dedication, vision, and expertise have been instrumental in shaping SJVN’s trajectory toward sustainable energy and growth.

A Visionary Leader

When asked about his approach as Director of Finance, Akhileshwar Singh cited his study of the growth stories of two major power sector PSUs – NTPC and NHPC. He analyzed their trajectories, examining how NTPC had grown to generate 70,000 MW of power, while NHPC focused on 7,000 MW. Singh probed into the factors, including technological changes and the complexities of developing hydro projects, that impacted the power sector. 

He also explored the emergence of storage in solar power, cost competitiveness in various forms of power generation, and crafted a strategic roadmap for SJVN to remain at the forefront of the industry.

As India continues its journey towards sustainable energy and reducing carbon emissions, SJVN Limited, under the stewardship of leaders like Akhileshwar Singh, stands ready to play a pivotal role in shaping a cleaner and brighter future for the nation. With its commitment to innovation and sustainable practices, SJVN is a shining example of India’s progress in the realm of clean and renewable energy.