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Tata Steel Limited to enter into agreement with Tata Power Renewable Energy Ltd. (TPREL) to source 379 MW of Renewable Power, a milestone towards achieving Net Zero

Mumbai, October 19, 2023

Tata Steel Limited (‘TSL’) today announced that it has concluded negotiations to enter into definitive agreements with TPREL and TP Vardhaman Surya Ltd. (‘TPVSL’) to acquire 26% in TPVSL, currently a wholly owned subsidiary of TPREL. TSL will also execute a fixed-tariff long-term agreement with TPVSL to source 379 MW of captive renewable power, which will save 50 million tons of carbon emissions over the contract period of 25 years.

TPVSL will set up a ~966 MW solar-wind hybrid renewable power facility which would make it one of the biggest industrial power projects under group captive segment in the country. This arrangement will replace a part of the existing coal-based power generation at Tata Steel Jamshedpur and cater to the requirements at Tata Steel Kalinganagar and the Electric Arc Furnace project at Ludhiana, Punjab.  

T.V. Narendran, Chief Executive Officer and Managing Director, Tata Steel, said: “Our partnership with Tata Power Renewable Energy marks a pivotal step in Tata Steel's sustainability journey towards achieving Net Zero carbon emissions by 2045. We stay committed to reducing our environment footprint and transitioning towards clean, green energy solutions, thus enabling a better tomorrow.”

Dr. Praveer Sinha, CEO & MD, Tata Power, said: “Tata Power is happy to develop this round-the-clock hybrid renewable power plant for Tata Steel. It is one of the largest industrial group captive plants in the country and will contribute towards meeting their clean energy goals by significantly reducing the carbon emissions." 



Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

For queries and information

Sarvesh Kumar,

Chief Corporate Communications - Tata Steel,

E-mail :

About Tata Steel

  • Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
  • It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.
  • The group recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023.
  • A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
  • Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.
  • The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
  • Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
  • The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
  • Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteelTM Certification.
  • Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, No. 1 brand in India in the Mining and Metals industry in Top 100 brand rankings for 2023 by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute.
  • Received 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.

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