Inox Air ropes in TP Saurya Bandita to set up 40 MW captive solar plant

INOX Air Products on Tuesday said it has signed an agreement with TP Saurya Bandita Ltd to set up a 40 MW captive solar plant at Dhule in Maharashtra.

TP Saurya Bandita is a special-purpose vehicle of Tata Power Renewable Energy Ltd (TPREL).

In a statement, INOX Air Products (INOXAP) said, "The power project with a capacity of 40MWp, would cater to the energy needs of the air separation units operated by INOXAP in Maharashtra."

Once commissioned, the plant will help INOXAP reduce 48,000 tonnes carbon emissions on an annual basis. This project is in line with INOXP's long-term strategy to reduce dependency on fossil fuels, lower the carbon footprint to manufacture green medical and industrial gases, it said.

INOXP did not disclose the order value. According to industry estimates, an investment of about Rs 5 crore is required to set up 1 MW of solar capacity.