The projects will be set up at the Pavagada Solar Park and will supply energy to the State Discoms under a Power Purchase Agreement (PPA), valid for a period of 25 years. Tata Power won this capacity in a bid at a tariff of INR 2.85/kWh announced by Karnataka Renewable Energy Development Limited (KREDL) during April this year. The projects will be commissioned within 12 months from the date of signing of the PPA.
The 250 MW solar PV project is the largest capacity won by Tata Power Renewable Energy Ltd (TPREL) in a bid so far. With this addition, it will have an overall operational capacity of 400 MW in Pavagada Solar Park, as 150 MW has already been operational since FY18. The plant is expected to offset approximately 578,631 tonnes of CO2 emission annually.
Recently, TPREL commissioned 100 MW (50 MW x 2) solar capacity in Anthapuramu Solar Park, Andhra Pradesh. The sale of power from this solar plant is tied up under a 25 year PPA with Solar Energy Corporation of India (SECI).
This is part of the implementation of the MNRE scheme for developing grid connected solar power capacity of Jawaharlal Nehru National Solar Mission (JNNSM) Phase II, Batch-III of the Government of India through Viability Gap Funding Mode.
Significantly, Tata Power plans to add around 1 GW of renewable energy capacity to its portfolio every year, scaling it to 45-50% in the next five years, largely through organic growth. It has organically added 159 MW wind and solar capacity in FY17 along with the acquisition of Welspun Renewables Energy last year.
Currently, TPREL has operating capacity of 2.2 GW, comprising 931 MW wind and 1.3 GW solar PV capacity in the states of Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamil Nadu, Karnataka and Rajasthan. The company is also in the process of implementing 121 MW of renewable power projects at various locations on Greenfield basis.