The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date.
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 (LOA) from Gujarat Urja Vikas Nigam Limited (GUVNL) on 28 May 2019 to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat.
The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The company has won this capacity in a bid announced by GUVNL in March 2019. The project has to be commissioned within 15 months from the date of execution of the PPA.
Speaking on this achievement, Praveer Sinha, CEO and MD, Tata Power, said, “We are proud to announce that we have been awarded 100 MW Solar Project in Gujarat, and are thankful to the Government of Gujarat and the officials at GUVNL for this opportunity. We are delighted to contribute towards the realisation of our country’s commitment towards clean and green energy through solar power generation.”
“With this win, 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 Ashish Khanna, president (renewables) of Tata Power.
With this win, TPREL’s capacity under implementation would become 500 MW which is in addition to the operating capacity of 2,268 MW. The plant is expected to generate 250 MUs of energy per year and will annually offset approximately 250 killion Kg of CO2.