Tata Power’s Renewable Arm Gets LoA to Develop 150 MW Solar Project

As per the deal, the energy will be supplied to Tata Power – D under a long-term PPA for 25 years from the scheduled commercial operation date.

Renewable arm of utility giant Tata Power, Tata Power Renewable Energy Ltd (TPREL) has got a Letter of Award (LoA) from Tata Power – Distribution (Tata Power – D) to develop 150 MW of solar project.

Country’s one of the leading power company said in a statement that, “Its wholly owned subsidiary TPREL has received a Letter of Award from Tata Power – Distribution on 31 October 2019 to develop 150 MW of solar project.”

However, the Power Purchase Agreement (PPA) will be executed upon approval and adoption of tariff by the Maharashtra Electricity Regulatory Commission (MERC), it said.

As per the deal, the energy will be supplied to Tata Power – D under a long-term PPA for 25 years from the scheduled commercial operation date.

Commenting on this partnership, Tata Power, CEO & 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.”

Also, Tata Power’s renewable arm has won this capacity in the month of August this year in a tender issued by Tata Power – D.

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

On the project win, Ashish Khanna, President-Renewables, Tata Power, said “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.”

Khanna further added that “this is an important milestone in our endeavour to generate 35-40 per cent 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.”

Meanwhile, the plant is likely to generate 360 MUs of energy every year and is expected to offset approx. 360 million kg of CO2 annually.