Our firm advised Tata Communications Limited ("TCL"), in relation to its investment in Nivade Wind Farm (SPV of Tata Power Renewable Energy Limited) to acquire its 26% of the share capital. The transaction will enable TCL to procure 40 million units (40 MUs) of renewable energy from its 18.75 MW solar power plant in Solapur, Maharashtra in compliance with the provisions of Electricity Act 2003 and Electricity Rules, 2005.¹

TCL by virtue of signing this power purchase agreement and procuring renewable energy under its aegis will transition to clean energy and reduce its annual carbon footprint by more than 30,000 tonne contributing actively to India's ambitious target of achieving net-zero carbon emissions by 2070.

INDUSLAW Team

Arun Kumar (Partner), Padmaja Kaul (Partner), Kushagra Sah (Senior Associate), Ahona Pal (Senior Associate), Anurag Mawai (Associate)

Footnotes

1 https://telecom.economictimes.indiatimes.com/news/enterprise-services/tata-power-renewable-tata-communications-ink-rs-105-cr-pact-to-set-up-captive-solar-project/107705141

2 https://www.thehindubusinessline.com/markets/tata-power-signs-105-cr-deal-with-tata-communications/article67844637.ece

3 https://energy.economictimes.indiatimes.com/news/renewable/tata-power-renewable-tata-communications-sign-105-crore-solar-power-agreement/107683666

4 https://www.cnbctv18.com/market/tata-power-surges-on-inking-pact-with-tata-communications-to-set-up-solar-plant-19049991.htm

5 https://solarquarter.com/2024/02/14/tata-power-renewable-energy-inks-%E2%82%B9105-crore-agreement-with-tata-communications-for-18-75-mw-ac-group-captive-solar-plant/