CHENNAI: Tata Power and Tata Steel have accelerated sustainable ways of production.
Tata Power has signed MoU with Asian Development Bank for $4.25 billion to finance key clean energy power projects. The MoU outlines the evaluation of financing for several key ongoing projects such as the 966 MW Solar Wind Hybrid project and Pumped Hydro Storage Project and other projects in the pipeline around energy transition, decarbonization, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks managed by Tata Power.
Meanwhile, Tata Steel has successfully pioneered the usage of biochar (biomass-based charcoal) in its Jamshedpur plant. This move strongly reinforces the company’s commitment to sustainability, nudging the steel maker closer to its Net Zero target of 2045.
Beginning as a trial in January 2023, the company has replaced approximately 30,000 tonnes of fossil fuel with biochar, to date. This approach has the potential to reduce more than 50,000 tonnes of carbon dioxide emissions annually. It also improves energy efficiency by partially replacing pulverised coal injection, underscoring Tata Steel's dedication to environmental responsibility and sustainable industrial practices.
