On Thursday renewables solution provider Tata Power Renewable Energy said that it has collaborated with Nepalese firm Dugar Power to accelerate Nepal’s renewable energy initiatives.
According to a statement, this tie-up heralds TPREL’s strategic entry into Nepal’s rapidly evolving renewable energy sector and sets the stage for a quantum leap in accelerating Nepal’s shift toward sustainable energy.
“Tata Power Renewable Energy Ltd (TPREL) has signed an agreement with Dugar Power Private Ltd (Dugar Power), a subsidiary of Dugar Group which is a prominent business house in Nepal,” a company statement said.
The cooperation will launch a long-term commitment to energy sustainability in the area by deploying revolutionary solar technology to create a variety of on- and off-grid energy alternatives.
The agreement is designed to cater to Nepal’s diverse energy requirements, offering scalable solutions from 1 KW to MW levels.
“This partnership with Dugar Power is a strategic alliance engineered to redefine Nepal’s energy landscape. As we make our entry into Nepal’s promising renewable energy market, we intend to generate a transformative impact,” Ashish Khanna, CEO of TPREL, said in the statement.
This opens up new horizons for TPREL to diversify its offerings, including supply cells & modules, Engineering, Procurement and Construction (EPC), as well as Operations and Maintenance (O&M) in Nepal, the statement said.
“Our alliance with TPREL is a strategic alignment in achieving Nepal’s long-term objectives for renewable energy and energy self-sufficiency,” Abhishek Dugar, Managing Director of Dugar Power, said.
Currently, company shares are trading 1.9% down at Rs. 257 on NSE.
TPREL, a subsidiary of Tata Power Company Ltd, is a leading player in the renewable energy sector, having globally shipped over 3GW of cells and modules.
