AmpIn Energy Transition will set up a 33 megawatt solar power plant in Maharashtra to supply green energy to auto-components maker Varroc.
A power purchase agreement (PPA) has been signed between the two companies in this regard, AmpIn said on Wednesday.
"AmpIn Energy Transition and Varroc announce a partnership to harness 33.1 MWp of solar power for Varroc's manufacturing facilities in Maharashtra. The collaboration leverages AmpIn's solar portfolio in Maharashtra, inclusive of its state-of-the-art 105 Megawatt peak (MWp) solar park situated in Parbhani," the statement said. The company did not disclose the value of the project.
The initiative is expected to fulfill 65-75 per cent of the power needed across seven manufacturing units of Varroc. The plant is anticipated to help reduce 43,296 tonnes of CO2 emissions annually, Pinaki Bhattacharyya, CEO and MD of AmpIn, said.
Tarang Jain, MD of Varroc, said, "through this alliance, we envisage a significant reduction in our carbon footprint, affirming our role as an auto industry leader invested in sustainable and progressive business practices."
AmpIn is India's leading renewable energy transition platform with a total portfolio of 3 GW spread across 17 states in the country.
As per industry estimates, to set up 1 MW of solar project, a capital investment of Rs 5-6 crore is required.
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First Published: Sep 20 2023 | 4:34 PM IST