Leverages synergies within the TATA Group in adopting sustainable business practices
Mumbai, August 17, 2020: Indian Hotels Company (IHCL), South Asia’s largest hospitality company, today announced the signing of a solar energy Power Purchase Agreement (PPA) with TP Kirnali Solar Limited, a wholly owned subsidiary of The Tata Power Company Limited. IHCL hotels in Mumbai, namely The Taj Mahal Palace, Taj Lands End and Taj Wellington Mews, will get approximately 60% energy from Green Source and will reduce nearly 22.9 million kg of CO2 emissions on an annual basis. This agreement is valid for a period of 25 years.
Speaking on the agreement, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “Innovation has always been integral to our philosophy at IHCL. This initiative is in line with the company’s focus on adopting sustainable and cost-efficient business practices, while leveraging Group-wide synergies and competencies. We are pleased to collaborate with Tata Power, which is a leader in clean energy generation.”
The agreement further strengthens the Tata Group’s firm commitment towards conserving natural resources for future generations. Through this initiative, IHCL hotels in Mumbai will be able to reduce nearly 22.9 million kg of CO2 emissions on an annual basis, which translates to a carbon reduction equivalent of approximately 7,200 cars off the road.
Speaking on this achievement, Mr. Praveer Sinha, Managing Director and Chief Executive Officer, Tata Power, said, “We are glad to collaborate with IHCL to reduce their carbon footprint and reaffirm the Tata Group’s commitment for sustainability. Presently, the association is limited to IHCL properties in Mumbai and we look forward to working closely with them for covering all their facilities across India.”
Sustainability is a prerequisite to IHCL operations and in the last four years, the Company has increased its renewable energy mix from 7% to 25%. IHCL also recently set a global benchmark in hospitality for environmental sustainability by a record-setting 78 of its hotels being awarded the EarthCheck Platinum, Gold and Silver certifications.
About Tata Power
Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 12742 MW. A pioneer in the field, it has a presence across the entire power value chain: Generation of renewable as well as conventional power including hydro and thermal energy; transmission & distribution, trading and coal & freight logistics. With renewable energy assets in solar and wind accounting for 30% of the company’s portfolio, Tata Power is a leader in clean energy generation. In line with the company’s view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, microgrids and home automation & smart meters.
It has successful public-private partnerships in generation, transmission & distribution in India namely: ‘Tata Power Delhi Distribution Ltd.’ with Delhi Vidyut Board for distribution in North Delhi; ‘Tata Power Ajmer Distribution Ltd.’ with Ajmer Vidyut Vitran Nigam Ltd. for distribution in Ajmer; ‘Powerlinks Transmission Ltd.’ with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi; ‘Maithon Power Ltd.’ with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology.
With growing international focus, Tata Power’s global presence includes strategic investments in Indonesia through a 30% stake in the coal company PT Kaltim Prima Coal (KPC); 26% stake in mines at PT Baramulti Suksessarana Tbk (BSSR); in Singapore through Trust Energy Resources; in Zambia through a 50:50 joint venture with ZESCO for 120 MW Hydro project; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project; in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.
With its 103 years track record of technology leadership, project execution excellence, world-class safety processes, customer care and driving green initiatives, Tata Power is poised for multi-fold growth and committed to ‘lighting up lives’ for generations to come. Visit us at: www.tatapower.com
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