July 11, 2018
Tata Power to develop 250MW solar project in Karnataka
Tata Power, India’s largest integrated power company, announced that Tata Power Renewable Energy(TPREL), the company’s wholly owned subsidiary, has received a Letter of Award from Karnataka Renewable Energy Development(KREDL) to develop 250MW (50MW x 5nos) of solar projects located in state’s Tumkur district at Karnataka.
The projects will be set up at the Pavagada Solar Park in Tumkur district at Karnataka and the energy will be supplied to the State Discoms under a Power Purchase Agreements (PPA), valid for a period of 25 years. The company has won this capacity in a bid at a tariff of INR2.85/kWH announced by KREDL during April 2018. The projects will be commissioned within 12 months from the date of signing of the PPA.
Speaking on this achievement, Praveer Sinha, CEO and MD, Tata Power, said, “We are proud to announce that we have been awarded the 250MW solar project in Karnataka, and thankful to the Government of Karnataka and the officials at KREDL for this opportunity. We are delighted to contribute towards the realisation of our country’s commitment towards clean and green energy through solar power generation.”
Ashish Khanna, president, renewables, Tata Power, said, “We are pleased to announce our win in Karnataka and with this, we continue to demonstrate our strong project development, engineering and execution capabilities. This is an important milestone in our endeavour to generate 35-40 percent of Tata Power's total generation capacity from clean energy sources. Pavagada Solar Park has provided us a unique opportunity to enhance our generation capacities in the same location and post development we will have the optimisation advantage of operating more than 400MW AC power from Pavagada. Establishment of solar project in this area will improve the revenue to the government and enables Pavagada to be one of the pioneers in solar park in the entire country.”
The 250MW solar project is the largest capacity won by the company in a bid so far. With this addition, TPREL will have an overall operational capacity of 400MW in Pavagada Solar Park as 150MW has already been operational since FY18. The plant is expected to annually offset approximately 578,631 tCO2e per year. TPREL has an operation capacity of 675MW making it a key player in the renewable energy space. 1.6 percent of their total annual consumption will be met with this project.