As per the deal, Tata Power will supply electricity to the state utility GUVNL under a 25 year Power Purchase Agreement (PPA).
Adding another feather in its cap, Tata Power Renewable Energy Ltd (TPREL), a renewable arm of utility giant Tata Power, got a Letter of Award (LOA) to develop 100 MW project in Gujarat’s Raghanesda Solar Park.
Country’s one of the leading power company said in a statement that, “Its wholly owned subsidiary TPREL has received a Letter of Award (LOA) from Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat.”
As per the deal signed, the company will supply electricity to the state utility GUVNL under a 25 year Power Purchase Agreement (PPA).
Also, the project will be commissioned by the company within 15 months from the date of execution of the PPA.
It has won this 100 MW project in the month of March this year in a tender issued by GUVNL.
Commenting on the LOA received, Tata Power, CEO & MD, Praveer Sinha 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.”
Post winning this 100 MW solar project, TPREL’s capacity under implementation would become 500 MW which is in addition to the operating capacity of 2,268 MW.
“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, Tata Power.
Meanwhile, this solar plant is expected to generate 250 MUs of energy every year and is likely to offset approx 250 Mn Kg of CO2 annually.