Ceat & Tata Power Shake Hands to Setup a 10MW Captive Solar Power Plant
The tyre maestro, Ceat recently associated with Tata Power in order to setup a 10MW captive solar plant at the latter’s Mumbai facility. This setup will happen exactly at Tata Power’s Solapur site for powering its tyre manufacturing facility in Bhandup, Mumbai. To execute the construction, operation and maintenance of this captive solar power plant, Tata Power has developed a special purpose vehicle (SPV) named TP Akkalkot Renewable Ltd. While Ceat will hold a 26 percent stake in the SPV, Tata Power will own 74 percent in accordance with the captive generation rules. The power generated from the plant will…