Tata Power has announced that it will create a new arm, TP Renewable Microgrid, to set up 10,000 microgrids to provide power to five million homes across the country. TP Renewable Microgrid will be set up in collaboration with Rockefeller Foundation , which will provide technical support. Rockefeller Foundation will have an equity stake in the venture.
Tata Power said that TP Renewable Microgrid represents important scaling up of efforts to provide access to affordable, reliable and clean electricity in India. It said: “TP Renewable Microgrid anticipates setting up 10,000 microgrids by 2026 to provide power to millions across India and help eradicate energy poverty.”
Tata Power said that TP Renewable Microgrid will reduce carbon emissions by one million tonne per year, and reduce diesel consumption by 57 million litres annually. TP Renewable Microgrid will be operated and managed by Tata Power, with about 11GW of installed power generation capacity and over 2.6 million customers under management across Delhi, Ajmer, and Mumbai.
Praveer Sinha, CEO of Tata Power, said: “Once at scale, TP Renewable Microgrid anticipates supporting one million rural enterprises, creating 10,000 new green jobs, and providing irrigation for over 4 million local farmers.”