New Delhi: Private power producer Tata Power today announced its 100 per cent subsidiary Tata Power Renewable Energy Ltd (TPREL) has won a 150 Megawatt (Mw) Solar Photo Voltaic (PV) project on a long-term basis in Maharashtra. The renewable energy firm will sign a 25 year Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Co Ltd (MSEDCL) which will be subject to the approval of Maharashtra Electricity Regulatory Commission (MERC) with applicable tariff.
This is part of MSEDCL’s 1,000 Mw grid-connected solar power projects for which the distribution company had invited bids through competitive bidding process for 25 years.
“Renewables is a focus area for us and we are looking at expanding in the renewables space, especially in Solar. As we move forward, with the new technology coming in, we expect to do further improvement in the PLFs, and also in the returns in renewable business,” said Mr Praveer Sinha, CEO & Managing Director, Tata Power.
Tata Power is planning to have 35-40 per cent of its total generation capacity from non-fossil fuel sources by 2025. Tata Power's renewable energy capacity has crossed 2,000 Mw and green generation portfolio -- consisting of solar, wind, waste heat recovery and hydro -- has crossed the 3,400 Mw mark, the company said.