Tata Power has announced that Tata Power Renewable Energy Limited (TPREL), the Company's wholly owned subsidiary, has received a Letter of Award from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to develop a 100 MW solar project in Maharashtra.
The energy will be supplied to MSEDCL under a Power Purchase Agreement (PPA), valid for a period of 25 years from scheduled commercial operation date. The Company has won this capacity in a bid announced by MSEDCL under Phase V dated December 2019. The project is required 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 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."
"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," said Ashish Khanna, President-Renewables, Tata Power.
The Plant is expected to generate about 240 MUs of energy per year and will annually offset approximately 240 Million Kg of CO2.
Tata Power's renewable capacity will increase to 3,557 MW, out of which 2,637 MW is operational and 920 MW is under implementation including 100MW won under this LOA.
END