June 06, 2018
Tata Power Renewable Energy wins 150MW solar PV project in Maharashtra
Mumbai: Tata Power, India’s largest integrated power company, today announced that its 100 percent subsidiary Tata Power Renewable Energy (TPREL) has won a 150MW Solar PV project on the long-term basis in Maharashtra.
TPREL has received the ‘Letter of Award’ to develop the project and will sign a 25-year Power Purchase Agreement (PPA) with the Maharashtra State Electricity Distribution Company (MSEDCL). PPA signed will be subject to the approval of the Maharashtra Electricity Regulatory Commission (MERC) with applicable tariff.
Ashish Khanna, president, renewables, Tata Power, said, “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 achieves 30-40 percent 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 and returns to the shareholders and will further enhance and increase our clean energy footprint.”
This project is a part of MSEDCL’s 1,000MW grid connected solar power projects for which MSEDCL had invited bids through competitive bidding process and e-reverse auction for a period of 25 years.
Praveer Sinha, CEO and managing director, Tata Power, 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.”
Tata Power’s vision is to have 35-40 percent of the company's total generation capacity from non-fossil fuel sources by 2025. As of today, Tata Power's renewable energy capacity has crossed 2,000MW and green generation portfolio (consisting of solar, wind, waste heat recovery and hydro) has crossed the 3,400MW mark.
In January 2018, TPREL announced the commissioning of its 50MW DCR solar plant at Pavagada Solar Park in Karnataka. The project was won by the company on April 4, 2016, under the National Solar Mission Phase-II Batch-II Tranche-I State Specific Bundling Scheme.
Before that, TPREL had commissioned 25MW solar plant in Charanka; Gujarat Solar Park, Gujarat, 30MW solar plant in Palaswade in Maharashtra, and 100MW solar plant at Pavagada Solar park in Karnataka.