Gujarat Urja Vikas Nigam Limited (GUVNL) has awarded Tata Power Renewable Energy Limited (TPREL) a contract to develop a 120 MW solar project in Gujarat. TPREL is a wholly owned of Tata Power.
The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA), valid for a period of 25 years from scheduled commercial operation date. The Company has won this capacity in a bid announced by GUVNL under Phase VIII dated February 2020. The project is required to be commissioned within 18 months from the date of execution of the PPA.
Speaking on this achievement, Mr. Praveer Sinha, CEO & MD, Tata Power, said that they are proud to announce that they have been awarded 120 MW Solar Project in Gujarat. We are thankful to the Government of Gujarat and the officials at GUVNL for this opportunity. With this award the cumulative capacity of renewables will be 3,457 MW,” he saud
“We are pleased to announce our win and with we continue to demonstrate our strong commitment towards renewable energy as well as project development, engineering and execution capabilities. We hope to continue to build on our capabilities, deliver over expectations and create high benchmarks all around.” said Mr. Ashish Khanna, President-Renewables, Tata Power.
The Plant is expected to generate about 300 MUs of energy per year and will annually offset approximately 300 Million Kg of CO2.
Tata Power’s renewable capacity will increase to 3,457 MW, out of which 2,637 MW is operational and 820 MW is under implementation including 120MW won under this LOI.
About Tata Power Renewable Energy Limited:
Tata Power’s renewable operating capacity, including rooftop solar capacity, is 2634 MW comprising of 932 MW wind and 1702 MW solar capacity located in the various states of India including Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamil Nadu, Karnataka and Rajasthan. TPREL is a wholly owned subsidiary of Tata Power, and 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 820 MW of renewable power projects at various locations on Greenfield basis. TPREL is seeking to grow its renewable portfolio in India and in select international markets through organic and inorganic opportunities.