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Leaders in power utility Tata Power on Monday said, “Its subsidiary Tata Power Renewable Energy Ltd (TPREL) will develop a 120 MW solar project for Gujarat Urja Vikas Nigam.”
In a regulatory filing, Tata Power said, “On 12 June 2020, Tata Power Renewable Energy Limited (TPREL), the company’s wholly-owned subsidiary of Tata Power, has received a Letter of Award from Gujarat Urja Vikas Nigam Limited (GUVNL), to develop a 120 MW solar project in Gujarat.”
“The energy will be supplied to GUVNL under a power purchase agreement (PPA), valid for 25 years from the scheduled commercial date. The company has won this capacity in a bid announced by GUNVL under Phase VIII dated February 2020,” the filing added.
Adding to the filing, the company said, “The project is required to be commissioned within 18 months from the date of execution of the PPA, and the plant is expected to generate about 300 MUs of energy per year and will annually offset approximately 300 Million Kg of C02.”
Commenting on the development, Praveen Sinha, CEO & MD of 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 winner and 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,” Ashish Khanna, President-Renewables, Tata Power added.