“TPREL has received the Letter of Award to develop the project and will sign a 25 year Power Purchase Agreement (PPA) with the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL). PPA signed will be subject to the approval of the Maharashtra Electricity Regulatory Commission (MERC) with applicable tariff,” the company said
in a statement.
Commenting on the development, Ashish Khanna, President-Renewables, Tata Power, said, “we aim to make the country self-sufficient in energy generation and be a support to attain world leadership in this sector. TPREL is towards Tata Power group’s renewable energy portfolio and achieve 30-40% generation capacity through clean energy sources.
To achieve this goal, we are evaluating clean and green energy projects which are in line with our core business value of sustainable growth & returns to the shareholders and will further enhance and increase our clean energy footprint,” said.
According to the company, the current project is a part of MSEDCL’s 1000 MW grid connected solar power projects for which MSEDCL had invited bids through competitive bidding process and e-reverse auction for a period of 25 years.
The company further said that its vision is to have 35-40% of its total generation capacity from non-fossil fuel sources by 2025.