These projects will be set up at the Pavagada Solar Park in Karnataka and the energy will be supplied to the State Discoms under a 25-year Power Purchase Agreements (PPA).
Power major Tata Power’s renewable arm, Tata Power Renewable Energy Ltd (TPREL), has received a Letter of Award from Karnataka Renewable Energy Development Ltd (KREDL) to develop 250 MW, i.e. 5 projects of 50 MW each, of solar projects in Tumkur district of Karnataka.
Adding to it, these projects will be set up at the Pavagada Solar Park in Karnataka and the energy will be supplied to the State Discoms under a 25-year Power Purchase Agreements (PPA).
The company said in a statement that, it has won this capacity in a bid at a tariff of Rs 2.85/kWH announced by KREDL during April 2018. The projects will be commissioned within 12 months from the date of signing of the PPA.
Commenting on solar projects win, Tata Power, CEO & MD, Praveer Sinha said, “We are proud to announce that we have been awarded the 250 MW Solar Project in Karnataka, and thankful to the Government of Karnataka and the officials at KREDL 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.”
“We are pleased to announce our win in Karnataka and with this, we continue to demonstrate our strong 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. Pavagada Solar Park has provided us a unique opportunity to enhance our generation capacities in the same location and post development we will have the optimisation advantage of operating more than 400 MW AC power from Pavagada. Establishment of solar project in this area will improve the revenue to the Govt. and enables Pavagada to be one of the pioneers in Solar park in the entire Country,” said Ashish Khanna, President-Renewables, Tata Power.
Till now, this 250 MW solar projects capacity is the largest capacity won by the company in a bid.
With this addition, TPREL will have an overall operational capacity of 400 MW in Pavagada Solar Park as 150 MW has already been operational since FY18.
Meanwhile, the plant is expected to annually offset approximately 578631 tCO2e per year. TPREL has an operation capacity of 675 MW making it a key player in the renewable energy space. 1.6% of their total annual consumption will be met with this project.