Tata Power Renewable Gets 150 MW Solar Proj in MSEDCL’s 1,000 MW Bid

The company has received the Letter of Award (LoA) to develop the project and will sign a 25 year Power Purchase Agreement (PPA) with the MSEDCL.

Tata Power’s renewable arm Tata Power Renewable Energy Ltd (TPREL) has bagged the 150 MW solar PV project in the bidding process of Maharashtra State Electricity Distribution Co Ltd’s (MSEDCL’s) 1,000 MW grid connected solar power project.

The company has received the Letter of Award (LoA) to develop the project and will sign a 25 year Power Purchase Agreement (PPA) with the MSEDCL.

However, the agreement signed will be subject to the approval of the Maharashtra Electricity Regulatory Commission (MERC) with applicable tariff.

Commenting on the project win, Tata Power, CEO & Managing Director, Praveer Sinha said, “Renewables is a focus area for us and we are looking at expanding in the renewables space, especially in Solar. As we move forward, with the new technology coming in, we expect to do further improvement in the PLFs, and also in the returns in renewable business. So that’s a core area that Tata Power is looking at, and I’m sure in a very near future we will attain and maintain the leadership position.”

“We aim to make the country self-sufficient in energy generation and be a support to attain world leadership in this sector. TPREL is towards Tata Power group’s renewable energy portfolio and achieve 30-40% generation capacity through clean energy sources. To achieve this goal, we are evaluating clean and green energy projects which are in line with our core business value of sustainable growth & returns to the shareholders and will further enhance and increase our clean energy footprint,” said Ashish Khanna, President-Renewables, Tata Power.

For this project MSEDCL had invited bids through competitive bidding process and e-reverse auction for a period of 25 years.