Tata Power Renewable Energy Limited (TPREL)—wholly owned subsidiary of India’s largest integrated power company Tata Power—has received a Letter of Award from Tata Power-Distribution to develop 150 MW of solar project. The power purchase agreement (PPA) will be executed upon approval and adoption of tariff by Maharashtra Electricity Regulatory Commission.
The electricity generated will be supplied to Tata Power-Distribution (Tata Power-D) under a PPA, valid for a period of 25 years from scheduled commercial operation date. TPREL won this capacity in a bid announced by Tata Power-D in August 2019. The project has to be commissioned within 18 months from the date of execution of the PPA.
Speaking on this achievement, Tata Power CEO and MD Praveer Sinha said, “We are proud to announce that TPREL has been awarded 150 MW Solar Project by Tata Power-D. We are delighted to contribute towards the realisation of our country’s commitment towards clean and green energy through solar power generation.”
“We are pleased to announce our win and with this, we continue to demonstrate our strong commitment towards renewable energy as well as project development, engineering and execution capabilities. 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,” said Ashish Khanna, President-Renewables, Tata Power.
The plant is expected to generate 360 million units of energy per year and will annually offset approximately 360 million Kg of CO2.
Tata Power’s renewable operating capacity is 2628 MW comprising 931 MW wind and 1696 MW solar capacity located in the various states of India including Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamil Nadu, Karnataka and Rajasthan.
TPREL is Tata Power’s primary investment vehicle for clean and renewable energy based power generation capacity. The company is also in the process of implementing 650 MW of renewable power projects at various locations on Greenfield basis. TPREL is seeking to grow its renewable portfolio in India and in select international markets through organic and inorganic opportunities.