Tata Power Renewable Energy Ltd.(TPREL) which is an arm of Tata Power has recently won a contract for developing 5 projects of 50MW of solar power projects in Tumkur district of Karnataka.
This project will be set up at the Pavada Solar Park with the contract valid for 25 years under a Power Purchase Agreement(PPA) and it will provide energy to the State Discoms. Tata won this contract in a bid of Rs. 2.85/kWh announced by Karnataka Renewable Enegry Development Limited (KREDL).
With this addition of project, the Pavagada Solar Park will have an operational capacity of total 400MW and the plant is expected to compensate approx. 578,631 tonnes of CO2 emission annually.
Tata power has plans to increase around 1GW of renewable energy capacity of its portfolio every year majorly through organic growth. Right now, TPREL has capacity of 2.2 GW in the states of Maharashtra, MP, Andhra Pradesh, Gujarat, Punjab, Bihar, Tamil Nadu, Rajasthan, Telangana, and Karnataka. It also look forward to implement 121 GW of renewable power projects at different locations on Greenfield basis.