Tata Power announced that Tata Power Renewable Energy Limited (TPREL), the Company’s wholly owned subsidiary, has received a Letter of Award from Gujarat Urja Vikas Nigam Limited (GUVNL) on 12th June 2020 to develop a 120 MW solar project in Gujarat.
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, “We are proud to announce that we have been awarded 120 MW Solar Project in Gujarat, and 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.”
“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.