Tata Power, India's largest integrated power company, announced that Tata Power Renewable Energy Limited (TPREL), the Company's wholly owned subsidiary, has received a Letter of Award from Tata Power - Distribution on 31 October 2019 to develop 150 MW of solar project. The Power Purchase Agreement (PPA) will be executed upon approval and adoption of tariff by Maharashtra Electricity Regulatory Commission.
The energy will be supplied to Tata Power - Distribution (Tata Power - D) under a PPA, valid for a period of 25 years from scheduled commercial operation date. TPREL has won this capacity in a bid announced by Tata Power - D in August 2019. The project has to be commissioned within 18 months from the date of execution of the PPA.
Speaking on this achievement, Praveer Sinha, CEO & MD, Tata Power, 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."
"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. 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." said Ashish Khanna, President-Renewables, Tata Power.
The Plant is expected to generate 360 MUs of energy per year and will annually offset approximately 360 Million Kg of CO2.
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