New Delhi: Tata Power on Monday said its renewable energy subsidiary TPREL has received a letter of award from Gujarat Urja Vikas Nigam Ltd (GUVNL) to set up a 250 MW solar project in Dholera Solar Park in Gujarat. This is in addition to 100 MW project awarded by GUVNL in May 2019 for Raghanesda Solar Park, the company added.
"Tata Power Renewable Energy Ltd (TPREL), a wholly-owned subsidiary of Tata Power, has received a Letter of Award (LoA) from GUVNL to develop a 250 MW solar project in Dholera Solar Park of Gujarat. The LoA was received on July 25, 2019," Tata Power said in a statement.
The energy, Tata Power said, 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 January 2019. The project has to be commissioned within 15 months from the date of execution of the PPA, it said.
"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," Ashish Khanna, President-Renewables, Tata Power said.
With this win, TPREL's capacity under implementation would become 650 MW which is in addition to Tata Power's operating capacity of 2,476 MW, it added.
The project is expected to generate 635 MUs of energy per year and will annually offset approximately 635 million kg of carbon dioxide. TPREL is Tata Power's primary investment vehicle for clean and renewable energy based power generation capacity.
The company is also in the process of implementing 650 MW of renewable power projects at various locations on greenfield basis, it said. Tata Power is India's largest integrated power company and, together with its subsidiaries and jointly controlled entities, has an installed capacity of 10,957 MW.