Tata Power Renewable Energy, a subsidiary of The Tata Power Company (NSE:TATAPOWER, BOM:500400), signed a power purchase agreement with Tata Motors (NSE:TATAMOTORS, BOM:500570) to co-develop a 131 MW wind-solar hybrid renewable energy project, according to a Monday filing with the Indian bourses.
The project will supply electricity exclusively to Tata Motors' six manufacturing facilities in Maharashtra and Gujarat, the filing said.
The hybrid project is expected to generate around 300 million units of electricity annually. Tata Motors aims to use this to support its RE-100 commitment, ahead of its 2030 target, it added.
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