Mumbai: Tata Steel will acquire a 26% stake in TP Vardhaman Surya, a wholly-owned subsidiary of Tata Power Renewable Energy, as a part of its plan to reduce carbon emissions to nil by 2045.
The steel-maker will also get into a fixed-tariff long-term agreement with TP Vardhaman Surya for sourcing 379 MW of captive renewable power. This is expected to cut carbon emissions by 50 million tonnes over a period of 25 years.
