CEAT Tyres Limited has announced its partnership with Tata Power to establish a 10 MW captive solar plant at Tata Power’s Solapur site in Maharashtra, for powering CEAT’s Bhandup plant unit. Tata Power has created a special purpose vehicle (SPV), TP Akkalkot Renewable Limited, which will be responsible for the construction, operations and maintenance (O&M) of the plant. CEAT will own 26 per cent of the plant and Tata Power will own 74 per cent, as per the captive generation rules. The plant is expected to generate 21 MUs of energy and offset approximately 17.43 million kg of carbon dioxide per year. This arrangement will reduce CEAT’s dependence on non-renewable energy.