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World Bank Energy Report recognizes Tata Power’s initiatives in DER and P2P Electricity Trading
~With innovative financing and rooftop solar maintenance, the company manages revenue risks via a two-part tariff model~
National, 21st June 2024: Tata Power, one of India’s largest integrated power companies, is proud to be acknowledged in the World Bank Energy Report as a pioneering force in Distributed Energy Resources (DER) offerings and peer-to-peer (P2P) electricity trading. With innovative financing and rooftop solar maintenance, the company manages revenue risks via a two-part tariff model.
From installing Battery Energy Storage System (BESS) to live peer-to-peer (P2P) Solar Energy Trading and setting up Urban Micro Grid, Tata Power brings in technological breakthroughs to ensure better peak load management, system flexibility and reliable power to its consumers. This recognition is part of Tata Power's continuous efforts to innovate and provide sustainable energy solutions across India.
The World Bank Energy Report, "The Critical Link: Empowering Utilities for the Energy Transition," highlights the work done by Tata Power through its distribution arm in Delhi and its transformative impact on power distribution in India. Through the implementation of advanced rooftop solar systems and innovative financing arrangements, Tata Power has not only reduced energy costs for consumers but also made significant contributions to environmental sustainability. Tata Power’s innovative tariff systems and the integration of rooftop solar systems enable customers to manage their energy needs efficiently while promoting the adoption of solar energy. This model supports customers in reducing their energy costs and contributes to a greener environment.
Under the Peer to Peer (P2P) Project, the company used Blockchain Technology to allow prosumers (those who produce and consume energy) to trade their surplus solar power with other consumers, with an objective of enhancing the adoption of renewable energy.
Tata Power’s recognition by the World Bank Energy Report reinforces its position as a leader in the energy sector, committed to driving the transition to sustainable energy and empowering communities through advanced utility services.
To read detailed report, please refer the link:
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