Tata Power Renewable Gets another LoA; to Develop 100 MW Solar Plant in M’rashtra  

Continuing its winning streak, Tata Power Renewable Energy Ltd (TPREL), the renewable arm of utility giant Tata Power, has secured yet another Letter of Award (LoA) within few days for the development of a solar plant.

Mumbai-headquartered Tata Power said in a statement on Friday that “it’s wholly-owned subsidiary TPREL has received a Letter of Award from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to develop a 100 MW solar project in Maharashtra.”

Commenting on the development, Praveer Sinha, CEO & MD, Tata Power, said that “we are proud to announce that we have been awarded 100 MW solar project in Maharashtra, and are thankful to the Government of Maharashtra and the officials at MSEDCL for this opportunity. With this award, the cumulative capacity of renewables will be 3,557 MW.”

As per the terms of the project tender, the company will supply electricity produced through solar energy to MSEDCL under a long-term Power Purchase Agreement (PPA), which is valid for 25 years from the scheduled commercial operation date (COD).

Further, the company has won this solar photovoltaic (PV) capacity in a bid announced by MSEDCL under Phase V during December 2019.

On winning the project, Ashish Khanna, President-Renewables, Tata Power, said that “we are pleased to announce our win and will continue to demonstrate our strong commitment towards renewable energy as well as project development, engineering and execution capabilities. We hope to continue to build on our capabilities, deliver over expectations and create high benchmarks all around.”

However, the project is expected to be commissioned within 18 months from the date of execution of the PPA.

The company said that once operational this solar plant is expected to generate about 240 MUs of energy every year and will annually offset about 240 Million Kg of CO2.

Post this win, the renewable energy capacity of India’s largest integrated power company will increase to 3,557 MW, including 2,637 MW operational, 920 MW under implementation and 100 MW won under this LoA.

A few days before, TPREL had received LoA from Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop 120 MW solar project in Gujarat. The company had won this solar PV project in a bid announced by GUVNL under phase-VIII during February this year.

Buoyed by the project win, shares of the company were trading at 43.55 apiece, up 1.52 per cent, from the previous close on the exchange at 13:22 p.m.