MUMBAI: Tata Power Renewable Energy Limited (TPREL), the wholly owned subsidiary of Tata Power, India’s largest integrated power company, 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 state’s Tumkur district at Karnataka.
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.
An official statement said the company has won this capacity in a bid at a tariff of Rs2.85/kWH announced by KREDL during April 2018. The projects will be commissioned within 12 months from the date of signing of the PPA.
Speaking on this achievement, Praveer Sinha, CEO & MD, 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.”
Ashish Khanna, President-Renewables said the establishment of solar project in this area will improve the revenue to the Government and will enable Pavagada to be one of the pioneers in solar park in the entire Country.
The 250 MW solar project is the largest capacity won by the company 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 recently.
The plant is expected to annually offset approximately 578631 tCO2e per year. TPREL has an operation capacity of 675 MW making it a key player in the renewable energy space. About 1.6 per cent of their total annual consumption will be met with this project.