Latest News | World Bank Report Recognises Tata Power for DER, P2P Electricity Trading

New Delhi, Jun 21 (PTI) Tata Power on Friday said World Bank Energy Report has recognised its contributions in DER (Distributed Energy Resources) and P2P (Peer-to-Peer) electricity trading.

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, a company statement said.

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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, it said.

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.

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This model supports customers in reducing their energy costs and contributes to a greener environment.

Under the P2P project, the company used blockchain technology to allow "prosumers" (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.

With innovative financing and rooftop solar maintenance, the company manages revenue risks via a two-part tariff model.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)