Jul 11: Tata Power, India’s leading integrated power company, on Tuesday announced that its wholly owned subsidiary Tata Power Renewable Energy Ltd (TPREL) has received a Letter of Award from Karnataka Renewable Energy Development Ltd (KREDL) to develop 250 MW (50 MW x 5 Nos) of solar projects located in the state of Karnataka.
According to the Tata Group firm, the projects will be set up at the Pavagada Solar Park in Tumkur district at Karnataka and the energy will be supplied to the State Discoms under a Power Purchase Agreements (PPA), valid for a period of 25 years.
“The company 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,” it said.
Speaking on this achievement, Ashish Khanna, President-Renewables, Tata Power, 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. 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.”
According to the company, the 250 MW solar project is the largest capacity won by it in a bid so far. 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, it said.