The Tata Power Company Limited, India’s largest integrated private power company, today signed a Memorandum of Understanding (MoU) with Government of Gujarat to explore the possibility of setting up a 5 MW Geothermal Power plant in phase I, at a suitable location in Gujarat. The Company also signed an MoU for developing a 5 MW solar power plant in Gujarat.
Mr. Prasad Menon, Managing Director, Tata Power said, "We are happy about this strategic partnership with Government of Gujarat. This partnership not only strengthens our renewable portfolio but also creates opportunities to expand our presence in the growing renewable energy market in India. We look forward to the synergistic opportunities that the alliance presents us. "
Geothermal energy is the natural heat found within the earth, where temperature increases with depth, typically by 10-50 degree Celsius/km. In Enhanced Geothermal Systems (EGS) technology, heat is extracted from granites located at a depth of a more than 4000 metres by circulating water through them in an engineered artificial reservoir. The heated water returns to the surface under pressure and is converted into electricity via a heat exchanger and conventional geothermal power plant.
Tata Power’s presence in solar includes “Tata BP Solar India Ltd.” a Joint-Venture with BP Solar, one of the largest solar companies in the world. Tata BP Solar is a market leader in Solar Photovoltaic technology in India with a turnover of Rs 660 crores. Nearly 75% of its sales come from exports largely to Europe and USA. Its growth plans include expansion of its module manufacturing facility and thrust on domestic sales.
About Tata Power:
Tata Power is India's largest integrated private power and energy company with an installed generation capacity of over 2300 MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution - “North Delhi Power Limited” with Delhi Vidyut Board for distribution in North Delhi, ‘Powerlinks Transmission Ltd.’ with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and ‘Maithon Power Ltd.’ with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. The Company has established global footprint by acquiring 30% stake in Indonesian Coal Mines and is developing the first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and sustainable power, Tata Power is poised for a five-fold growth in five years and committed to ‘lighting up lives’ for generations to come.
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