| | DECEMBER 20239TATA POWER SIGNS PACT TO BUILD 13.2 MW GROUP CAPTIVE SOLAR PLANTTata Power Renewable Energy announced an agreement to create a 13.2 MW group captive solar facility with the Dr. Abhay Firodia Group of Companies (Force Motors Ltd and Jaya Hind Industries Pvt Ltd). "Tata Power Renewable Energy Ltd (TPREL) entered into a Power Delivery Agreement (PDA) with Dr. Abhay Firodia Group of Companies -- Force Motors Limited and Jaya Hind Industries Private Limited -- for supplying green power for 25 years under Group Captive scheme," a company statement said.Under the group captive scheme, a power plant is developed for collective usage of multiple consumers.The partnership marks a significant stride in advancing sustainable energy solutions for industrial usage. Under the agreement, Force Motors Ltd, a fully vertically integrated automobile company, will use 6.2 MW AC power and consume 13.64 million units (MUs) annually, as per economic times. Jaya Hind Industries Private Ltd, the other group company, will consume 7.0 MW AC power, requiring 15.40 MUs per year. This solar project, located in Achegaon, Maharashtra, has a capacity of 13.2 MW AC, generates 29.04 MUs of power yearly, and is expected to eliminate carbon emissions by roughly 21,200 metric tonnes per year.The project is expected to be finished within a year of the signing of the electricity delivery agreement. TPREL will be in charge of the group captive solar plant's development, management, and maintenance. Force Motors Ltd and Jaya Hind Industries Private Ltd would benefit from the plant's clean and dependable power source, as well as the opportunity to actively contribute to environmental sustainability.Deepesh Nanda, CEO & MD, Tata Power Renewable Energy, said in the statement, "It will set new benchmarks in the automotive sector towards adoption of clean energy for environmentally conscious future." M2P Fintech, a digital banking infrastructure startup, has paid about Rs 250 crore for Goals101, a firm focusing in transaction behavioral intelligence. The acquisition will improve M2P Fintech's data analytics capabilities to its clients.Goals 101, a seven-year old company, has developed a platform that runs on advanced algorithms and analytics tools which provide insights into consumer transaction patterns and orchestrates actionables, as per livemintM2P Fintech will include Goals101's technology into its existing portfolio of financial services. "This acquisition will act as a catalyst to bring in a high degree of personalisation in its digital banking products to its customers," M2P said in a statement.The Goals101 team will continue to create new data capabilities and increase the use of their big data platform following the acquisition. Their primary focus will be on enhancing the personalization of financial products for customers worldwide.Goals101 has a presence in a number of countries, including India, the Middle East and North Africa (MENA), and South East Asia. Across these geographies, the organization works with banks and payment networks.Goals101 was co-founded by Visham Sikand, an alumnus of Harvard Business School with a history of successful enterprises such as Plat5 and Indian Health Organization, along with Milan Naik, Anshuman Pandey, Ishank Joshi, and Anupam Bhat, and is backed by Nexus Venture Partners. During the course of the business, Shivam Maheshwari and Nikhil Raj were promoted to co-founders.M2P Fintech co-founder and CEO Madhusudanan R stressed the company's commitment to incorporating sophisticated capabilities for a holistic next-generation banking experience. He sees the integration of Goals101 as a crucial step toward reaching this ambition.Visham Sikand, who is poised to take over as CEO of M2P Fintech, expressed excitement about the potential scalability of their goods in the worldwide market, leveraging their unique data-driven technology developed in conjunction with M2P. GOALS101 IS ACQUIRED BY M2P FINTECH FOR RS 250 CRORE
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