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, Mr. 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 Mr. 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.
Tata Power’s renewable operating capacity is 2628 MW comprising of 931 MW wind and 1696 MW solar capacity located in the various states of India including Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamil Nadu, Karnataka and Rajasthan. 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. The company is also in the process of implementing 650 MW of renewable power projects at various locations on Greenfield basis. 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 10,763 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 30% 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
