NTT Com, Netmagic partners with Tata Power for solar project
NTT Com - Netmagic which is a leading managed hosting and multi-cloud hybrid IT solution provider in India has entered into a partnership with Tata Power to build its first 50 MW Solar Photovoltaic (PV) power plant in Solapur, Maharashtra.
This will enable NTT Com - Netmagic to meet the green energy needs and optimise operating costs. This project will help in reducing CO2 emission at an average by about 70,000 tonnes per annum with the increased power and cooling demands of NTT Com - Netmagic’s data centres in the city.
The power will be supplied through open access under a long-term power purchase agreement. Poolawadi Windfarm Limited, a subsidiary of Tata Power Renewable Energy Limited (TPREL) has signed definitive agreements to supply 50 MW solar power to NTT Com- Netmagic. It has also been using renewable sources of energy, including wind and solar power plants in Bengaluru and Chennai through open access.
The capacity will be built in a phased manner with an initial capacity of 35 MW increasing up to 50 MW within 24 months of initial commissioning of the plant.
On Wednesday, the stock of Tata Power opened at Rs 68.35 per share on BSE. During the morning trading session, it was up by 1.3 per cent to Rs. 68.85 from the previous close of Rs. 67.95.