Tata Power Renewable Energy Limited Signs PPA with SJVN Limited
to set up 460 MW Firm and Dispatchable Renewable Energy Project
• Plant to generate nearly 3000 million units (MUs) of power and offset ~2,200 Mn.
Kgs of CO2 emissions annually
• FDRE facilitates round-the-clock power supply, aiding Discoms in meeting RPO
and ESO
National, 3rd May, 2024
Tata Power Renewable Energy Limited (TPREL), a leading
entity in India's renewable energy landscape and a subsidiary of The Tata Power
Company Limited, has signed a Power Purchase Agreement (PPA) with SJVN Limited
(SJVN), an Indian Public Sector Undertaking (PSU), for a 460 MW Firm and Dispatchable
Renewable Energy (FDRE) Project.
The plant, designed to meet the 460 MW FDRE requirement, integrates solar, wind, and
battery storage technologies to ensure efficient energy dispatch during peak hours,
thereby stabilizing the grid. FDRE enables round-the-clock power supply, assisting
Distribution Companies (Discoms) in fulfilling Renewable Purchase Obligations (RPO)
and Energy Storage Obligations (ESO). This win marked TPREL's inaugural success in
the FDRE tender, highlighting its commitment to providing reliable and sustainable energy
solutions.
Commenting on the partnership, Mr. Deepesh Nanda, CEO and Managing Director,
Tata Power Renewable Energy Limited, said,
“This partnership with SJVN Limited will
witness the deployment of best-in-class sustainable energy solutions from TPREL. It will
go a long way in meeting the green energy objectives of SJVN Limited. By integrating
diverse renewable energy sources and leveraging the importance of Firm and
Dispatchable Renewable Energy (FDRE), the collaboration will ensure a dependable
power supply and also actively contribute to India's ambitious renewable energy targets.”
Pawan Varma, Executive Director (REIA & RTS) at SJVN Limited, said,
"We are
excited to collaborate with Tata Power Renewable Energy Limited in this endeavour to
promote renewable energy in India. Through this partnership, we aim to leverage our
combined expertise to drive innovation and support the nation's transition towards clean
energy."
The plant is anticipated to generate approximately 3,000 MUs of power while offsetting
around ~2200 Mn. Kgs of CO2 emissions annually.
With addition, the total renewables capacity of TPREL has reached 9,421 MW (PPA
capacity is 7,978 MW) including 4,906 MW projects under various stages of
implementation. The Company’s operational capacity stands at 4,515 MW, which
includes 3,485 MW solar and 1,030 MW wind.
Presently, the Company's solar EPC portfolio is more than 12.8 GWp of ground-mount
utility-scale, over 2 GW of rooftop and distributed ground-mounted systems and over
1,00,000 solar water pumps. TPREL is committed to providing energy access to millions
of people across the country via its integrated green energy solutions.
About Tata Power Renewable Energy Limited:
Tata Power Renewable Energy Limited (TPREL) is a subsidiary of The Tata Power Company Limited and is one of the
country’s most
significant renewable energy players. TPREL is a developer of renewable energy projects (including solar, wind,
hybrid, round-theclock (RTC), peak, floating solar, and storage systems including battery storage) that it owns,
operates, and maintains. It also offers
comprehensive green energy solutions for rural and urban areas like turnkey, EPC and O&M solutions for various
business segments
like utility-scale projects, solar rooftop, and solar pump systems. Along with its extensive portfolio of
renewable solutions, it has a
state-of-the-art solar cell and module manufacturing plant of 530 MW solar cells and 682 MW modules in Bengaluru
and plans to set
up a Greenfield to set up a Greenfield 4.3 GW solar cell & solar module plant in Tamil Nadu. In addition, TPREL
also provides electric
vehicle (EV) charging solutions across various segments and other advisory solutions across the renewable
sector. As on date,
TPREL’s total renewable utility capacity is 9,421 MW (PPA capacity is 7,978 MW) including 4,547 MW projects
under various stages
of implementation and its operational capacity is 4,515 MW, which includes 3,485 MW solar and 1,030 MW wind.
Presently, the
company's solar EPC portfolio is more than 12.8 GWp of ground-mount utility-scale, over 2 GW of rooftop and
distributed groundmounted systems, and over 1,00,000 solar water pumps. TPREL aims to provide energy access to
millions of people across the
country via its integrated green energy solutions. Know more:
: www.tatapowersolar.com
About Tata Power:
Tata Power is a leading integrated power company and a part of Tata Group, India’s largest multi-national
business conglomerate.
The company has a diversified portfolio of 14,707 MW, spanning across the entire power value chain - from
renewable and
conventional energy generation to transmission & distribution, trading, storage solutions and solar cells and
module manufacturing.
As a pioneer of clean energy transition in India, Tata Power has 5,593 MW of clean energy generation, which
constitutes 40% of its
total capacity. The company has also committed to achieve carbon neutrality before 2045.Tata Power has
established India’s most
comprehensive clean energy platform, with offerings such as rooftop solar, microgrids, storage solutions, EV
charging infrastructure,
home automation et al. The company has also attracted global investors to support its growth and vision. Tata
Power has successfully
partnered with public and private entities in generation, transmission & distribution sectors in India, serving
approx.13 million
customers across the country. To know more about Tata Power, visit
www.tatapower.com
Disclaimer:
The following press release/announcement may contain forward-looking statements within the
meaning of applicable securities laws
and regulations. These statements are based on management's current views, expectations, assumptions, and
projections regarding
the Company's future performance, business plans, growth prospects, competitive and regulatory environment, and
other related
matters. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual
results to differ
materially from those expressed or implied in the statements. Factors that could cause actual results to differ
materially from those
contemplated in the forward-looking statements are not limited to changes in economic conditions affecting
demand/supply and price
conditions in the domestic and overseas markets in which the Company operates, alterations in the business
environment, fluctuations
in Government regulations, laws, statutes, judicial pronouncements, and other incidental factors. The Company
does not undertake
any obligation to publicly update or revise any forward-looking statements based on subsequent events,
information, or developments,
except as required by applicable laws and regulations.
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