Tata Power  and IIT Madras have signed a  pact to collaborate on R&D, consultancy, advocacy, training and technology solutions. As per the statement, the two organisations have signed a memorandum of understanding (MoU) to facilitate this collaboration.

As a part of the MoU, Tata Power and IIT Madras will aim to develop advanced research in areas of future technology. The agreement also includes campus recruitment opportunities to postgraduate students of IIT Madras.

Dr Praveer Sinha, CEO and MD, Tata Power, said, "Together, we will collaborate in areas of advanced technology, innovation and knowledge for sustainable changes. We are looking forward to work with some of the most talented and brilliant minds in the country."

Tata Power has fostered a culture of innovation, creativity and entrepreneurship within the organisation for its employees to design, develop and deliver unique energy products, services and solutions, said Dr Praveen Sinha.

The key objectives that was agreed upon by Tata Power and IIT-M as a part of the tie-up includes collaborative research projects including research-based and consulting projects supported by the Center for Industrial Consultancy and Sponsored Research (IC&SR), IIT Madras.Campus Recruitment will also be covered under the MoU. It will involve recruitment of IIT Madras graduates for full time employment or as interns by Tata Power subject to company's organisational needs. This activity will be facilitated by the Placement Office, IIT Madras.

Tata Power and IIT Madras may enter into a manner governing each of them with regard to research interaction visits and/or sabbaticals if any and through virtual means and /or invite each other to respective research laboratories for detailed discussions.

Under this initiative, employees of Tata Power can participate in various degree programs such as M.Tech., M.S. and Ph.D. offered by IITM after securing admission. IITM and Tata Power personnel can also jointly or individually offer short term training programs.

Further, Tata Power and IIT Madras can also come together to engage in CSR domain.

The company can also choose to make grants to support faculty research or to support students on scholarships and fellowships.

Thus, Tata Power and IIT Madras can also experience to work together with the start-up companies collocated in the IITM Incubation Cell.