Tata Power Renewable Energy (TPREL), India's largest renewable energy company and Tata Power's wholly-owned subsidiary, has entered into a Power Purchase Agreement (PPA) with GE to provide solar rooftop solutions for six manufacturing and services sites in India.

Tata Power will install solar rooftop projects at manufacturing sites located at Durgapur in West Bengal, Pallavaram and Hosur in Tamil Nadu, multi-modal manufacturing site at Pune and upcoming factory at Marhowra in Bihar and maintenance facility at Roza in Uttar Pradesh. The project would be executed on build-own-operate basis.

The installation of the solar rooftop projects will help to generate over 1 million kWh of electricity per year and will lead to an average tariff reduction of around 30 percent. GE will also be able to curb the emission of over 13,000 kg of carbon dioxide per day.

Ashish Khanna, President- Renewables, Tata Power said in a statement, ''The project underlines our leadership in project commissioning space and reflects GE’s commitment towards enhancing solar energy for its manufacturing units. It also demonstrates GE’s confidence in Tata Power capabilities in providing reliable solar power through competency in rooftop solutions. We are hopeful that the renewable segment will also be encouraged by these cost optimised energy solutions.''

Shares of the company declined Rs 0.4, or 0.51%, to trade at Rs 77.45. The total volume of shares traded was 56,432 at the BSE (9.37 a.m., Thursday).