India-based steelmaker Tata Steel has announced that it will acquire a 26 percent stake in TP Vardhaman Surya (TPVSL), a subsidiary of Tata Renewable Energy Limited (TPREL).
The company will also source 379 megawatts of clean energy from TPREL to reduce carbon emissions. Tata Steel aims to cut its carbon emissions by 50 million mt over the next 25 years and become carbon-neutral by 2045.
TPVSL will also build a 996-megawatt solar-wind hybrid renewable energy plant.
