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CEAT Ties Up with Tata Power for 10MW Captive Solar Power Plant

CEAT Limited, an Indian multinational tyre manufacturing company has tied up with Tata Power to establish a 10 MW captive solar power plant at its tyre manufacturing facility at Bhandup, Mumbai.

Tata Power has created a special purpose vehicle (SPV) named TP Akkalkot Renewable for construction, operation and maintenance of the captive power plant. CEAT holds a 26% stake and Tata Power owns 74% in the SPV as per the captive generation rules.