~Stands at an overall renewable capacity of 2,628 MW in India~
Tata Power, India’s largest integrated power company, today announced that its 100% subsidiary Tata Power Renewable Energy Ltd. (TPREL) commissioned 150 MW solar capacity in Village Chhayan, Tehsil Pokharan, State Rajasthan. With this, the overall operating renewable capacity of TPREL now stands at 2,628 MW in India.
The Company had won this capacity in a bid at a tariff of INR 2.72/kWh announced by MSEDCL during May 2018. The sale of power from this solar plant has been tied up under a 25 year Power Purchase Agreement with Maharashtra State Electricity Distribution Co. Ltd. The project is connected at 220 kV to PGCIL's Bhadla substation making it the Company's first ISTS solar project.
The Company is currently developing 500 MW of renewable capacity across the country including 100 MW under PPA signed with UPPCL and NPCL in Uttar Pradesh, 100 MW under a PPA signed with GUVNL at Raghanesda solar park and 250 MW at Dholera solar park.
“Renewable energy is the future for ‘New India’ and will play a big role in providing the country “24X7 Power for All by 2019”. For a tropical country like India, solar energy has the highest potential. Tata Power is focused to constantly proliferate the group’s renewable energy portfolio and we plan to generate 35 - 40% of Tata Power's total generation from clean energy sources, largely through organic growth.” Mr Praveer Sinha, CEO & Managing Director, Tata Power.
"The commissioning of 150 MW capacity in Rajasthan has fortified our position as a leading renewable energy company in the country with a strong presence in solar power generation. We will continue to seek potential of sustainable growth of renewable power in India . This is our first ISTS project and first to follow Feb 2019 CEA guidelines, hence showcases our ability to execute complex solar projects "Mr. Ashish Khanna, President-Renewables, Tata Power said.
TPREL is a wholly owned subsidiary of Tata Power, and is Tata Power's primary investment vehicle for clean and renewable energy based power generation capacity. TPREL's present operating capacity is 2,628 MW comprising of 932 MW wind and 1,696 MW solar capacity located in the states of Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamil Nadu, Karnataka and Rajasthan. The company is also in the process of implementing 500 MW of renewable power projects at various locations on Greenfield basis. In order to aggregate its clean and renewable energy portfolio, Tata Power has initiated the process of carving out its 380 MW clean energy assets from its books into TPREL. TPREL is seeking to grow its renewable portfolio in India and in select international markets through organic and inorganic opportunities. Visit us at www.tatapowerrenewables.com
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
