Tata Power Renewable Energy Limited (TPREL), wholly owned subsidiary of Tata Power, has received a Letter of Award (LOA) from state utility Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat. The company had won this capacity in a 700 MW tender issued by GUVNL in March 2019, which had ceiling tariff aggressively set at Rs 2.70/kWh.
The power generated will be supplied to GUVNL under a power purchase agreement (PPA) valid for a period of 25 years. The project has to be commissioned within 15 months from the date of execution of the PPA.
With this win, TPREL’s capacity under implementation would become 500 MW, which is in addition to the operating capacity of 2,268 MW (comprising 931 MW wind and 1337 MW solar capacity at utility scale).
Speaking on the achievement, Praveer Sinha, CEO and MD, Tata Power, said, “We are delighted to contribute towards the realisation of our country’s commitment towards clean and green energy through solar power generation.”
“This is an important milestone in our endeavour to generate 35-40% of Tata Power’s total generation capacity from clean energy sources. We hope to continue to build on our capabilities, deliver over expectations and create high benchmarks all around,” added Ashish Khanna, president-Renewables, Tata Power.
The company was also recently awarded 250 MW at the latest Dholera solar auction by GUVNL, which had tariff ceiling of Rs2.75/kWh.