Leaders in power utility company Tata Power on Friday said, “Its subsidiary Tata Power Renewable Energy Limited (TPREL) has received an order from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) to develop a 100 MW solar project.”
In a filing at the stock exchange, Tata Power said, “Tata Power Renewable Energy Limited (TPREL), the Company’s wholly-owned subsidiary, has received a Letter of Award from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to develop a 100 MW solar project in Maharashtra.”
“The energy will be supplied to MSEDCL under a Power Purchase Agreement (PPA), valid for 25 years from a scheduled commercial date,” the company said.
Adding to the statement, the company further said, “The company has won this capacity in a bid announced by MSEDCL under Phase V dated December 2019. The project is required to be commissioned within 18 months from the date of execution of the PPA.”
Commenting on the development, Praveer Sinha, CEO & MD of Tata Power said, “We are proud to announce that we have been awarded 100MW Solar project in Maharashtra, and are thankful to the Maharashtra government and the officials at MSEDCL for the opportunity. With this award, the cumulative capacity of renewable will be 3,557 MW.”
“We are pleased to announce our win and will 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 our expectations, and create high benchmarks all around,” Ashish Khanna, President – Renewables, Tata Power, said.
“The plant is expected to generate about 240 MUs of energy per year and will annually offset approximately 240 Million Kg of CO2,” the statement added.