Tata Power to develop 250MW solar project in Gujarat
The energy will be supplied to GUVNL under a PPA valid for a period of 25 years
Tata Power has announced that Tata Power Renewable Energy (TPREL), the company’s wholly owned subsidiary, has received a Letter of Award (LOA) from Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a 250MW solar project in Dholera Solar Park of Gujarat. This capacity is in addition to 100MW awarded by GUVNL earlier at Raghanesda Solar Park in May.
The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The company has won this capacity in a bid announced by GUVNL in January. The project has to be commissioned within 15 months from the date of execution of the PPA.
Praveer Sinha, CEO & MD, Tata Power, said, “We are delighted to contribute towards the realisation of our country’s commitment towards clean and green energy through solar power generation.”
“With this win, we continue to demonstrate our strong commitment towards renewable energy as well as project development, engineering and execution capabilities. This is an important milestone in our endeavour to generate 35-40% of Tata Power's total generation capacity from clean energy sources. We hope to continue to build on our capabilities, deliver over expectations and create high benchmarks all around.” said Ashish Khanna, president, renewables, Tata Power.
With this win, TPREL's capacity under implementation would become 650MW which is in addition to Tata Power's operating capacity of 2,476MW. The plant is expected to generate 635 MUs of energy per year and will annually offset approximately 635 million kg of CO2.