Tata Capital, the financial services arm of the Tata Group, announced the launch of a first-of-its-kind solar paneled forest, or Surya Aranya – the ‘forest of the sun’, today at the i-Think Techno Campus at Thane. Tata Capital in partnership with the Centre for Environmental Research and Education (CERE), a Mumbai-based not-for-profit organization, has undertaken a series of sustainability initiatives over the past five years in its move towards carbon reduction and this project is one more step in that direction. CERE has worked closely with Tata Capital in conceptualizing and undertaking this project on a turnkey basis in association with Design Directions, Autonic Energy Solutions and Lodha Builders. Present at the event were Dr. Mukund Rajan – Brand Custodian and Chief Ethics Officer, Tata Sons along with Mr. Amar Sinhji, Head Human Resources, Tata Capital Limited who inaugurated the solar tree panels in the garden compound.
Tata Capital, through this initiative aims to put in practice the efficacy of solar powered energy. Based on a revolutionary Urban Lighting Concept that is widely accepted across Europe and USA, this solar forest, which consists of a set of 6 solar paneled trees, will self-illuminate and power garden and security lights on the campus from dusk to dawn producing close to 750 watts of energy. The garden lights have been retrofitted with LED bulbs that consume less electricity as compared to conventional incandescent or CFL bulbs. Tata Capital and CERE have added an innovational dimension to the cluster of ‘solar trees’ to bring to light the message that ‘renewable energy’ saves habitats and wildlife. Each tree trunk bears two symbols of either a plant or an animal species that are on the verge of extinction in India.
Conventional fossil fuel based power plants have been responsible for the decline in biodiversity and therefore, renewable energy is the answer to such complexly related environmental problems.
India Inc. has been speaking about renewable energy being one of the sunrise sectors for future growth in India. According to a recent study by CII, there is a great need for corporates to focus on and engage in sustainable development or green growth. Tata Capital is leading by example is in this area by establishing a practical alternative for living the ‘green way’.
Speaking on the launch of this unique initiative Dr. Mukund Rajan- Brand Custodian and Chief Ethics Officer, Tata Sons said,” The Tata group strongly believes in giving back to the society and since inception our constant endeavor has been to empower sustainable livelihood. Towards this I am delighted to announce the launch of the first-of-its-kind solar panel trees in Navi Mumbai. Our aim is to replicate similar initiatives across the country beginning with Tata Capital’s office premises.”
Mr. Amar Sinhji, Head Human Resources and Corporate Sustainability, Tata Capital Limited, said, “One of the key areas of focus of Tata Capital’s Corporate Sustainability initiatives is the Environment and its conservation. We recognize the chronic need for energy conservation and developing sustainable sources of energy. The Surya Aranya is a unique ‘green’ innovation and is the first of many steps at Tata Capital towards the use of renewable energy.”
About Tata Capital Limited:
Tata Capital Limited is a subsidiary of Tata Sons Limited. The Company is registered with the Reserve Bank of India as a Systemically Important Non Deposit Accepting Core Investment Company and offers through itself and its subsidiaries fund and fee-based financial services to its customers. A trusted and customer-centric, one-stop financial services provider, Tata Capital caters to the diverse needs of retail, corporate and institutional customers, across various areas of business namely the Commercial Finance, Infrastructure Finance, Wealth Management, Consumer Loans and distribution and marketing of Tata Cards.