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02 Jan 2019 -Mumbai BEST to extend 677 MW PPA with Tata Power for the next five years

Maharashtra Electricity Regulatory Commission (MERC) allows Brihanmumbai Electric Supply and Transport Undertaking (BEST) to extend its existing PPA with Tata Power for 676.69 MW for a period of five years from 1 April 2019 to 31 March 2024

Maharashtra Electricity Regulatory Commission (MERC) has allowed Brihanmumbai Electric Supply and Transport Undertaking (BEST) to extend its existing Power Purchase Agreement (PPA) with The Tata Power Company Ltd. (TPC-G) for 677 MW supplied from its Trombay Thermal and Hydro plants for a period of five years from 1 April 2019 to 31 March 2024.

After the due diligence for ensuring the reliability of supply and cost competitiveness for the BEST consumers in Mumbai, the Hon’ble Commission, in its order on 2nd January 2019, approved the extension. The Hon’ble Commission’s order came after BEST inter alia submitted that the cheapest option before BEST is the extension of its present PPA with Trombay Thermal Power Station and Hydro plants of Tata Power. BEST and Tata Power have agreed for an extension of PPA with existing terms and conditions

‘Tata Power is committed to supplying the most reliable and competitive power meeting the needs of BEST consumers, as always” said Mr. Praveer Sinha, CEO & Managing Director, Tata Power.

The process of power tie-up was undertaken by BEST in 2017-18 for its Discom consumers for the period of next five years starting 1st April 2019. The existing power tie-up of 677 MW between BEST & Tata Power is scheduled to expire on 31st March 2019.

This will ensure cheaper power to Mumbai consumers with the added advantage of hydro peaking power at rates which are cheapest in the country. This will also ensure continuity of reliable power supply to Mumbai consumers from embedded Tata Power thermal and hydro generating stations in view of the transmission constraints.

About Tata Power:

Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 10857 MW. A pioneer in the field, it has a presence across the entire power value chain: Generation of renewable as well as conventional power including hydro and thermal energy; transmission & distribution, trading and coal & freight logistics. With renewable energy assets in solar and wind accounting for 22% of the company's portfolio, Tata Power is a leader in clean energy generation. In line with the company's view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, microgrids and home automation & smart meters.

It has successful public-private partnerships in generation, transmission & distribution in India namely: ‘Tata Power Delhi Distribution Ltd.’ with Delhi Vidyut Board for distribution in North Delhi; 'Tata Power Ajmer Distribution Ltd.' with Ajmer Vidyut Vitran Nigam Ltd. for distribution in Ajmer; 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi; 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology.

With growing international focus, Tata Power's global presence includes strategic investments in Indonesia through a 30% stake in the coal company PT Kaltim Prima Coal (KPC); 26% stake in mines at PT Baramulti Suksessarana Tbk (BSSR); in Singapore through Trust Energy Resources; in South Africa through a joint venture called ‘Cennergi’ to develop projects in sub-Sahara Africa; in Zambia through a 50:50 joint venture with ZESCO for 120 MW Hydro project; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project; in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.

With its 103 years track record of technology leadership, project execution excellence, world-class safety processes, customer care and driving green initiatives, Tata Power is poised for multi-fold growth and committed to 'lighting up lives' for generations to come. Visit us at: www.tatapower.com