Tata Power arm receives an order to develop 225 MW hybrid renewable project

Tata Power on Thursday said its wholly-owned subsidiary Tata Power Green Energy Ltd has bagged an order to develop a 225-megawatt hybrid renewable power project. “Tata Power Green Energy Ltd (TPGEL), the company’s wholly-owned subsidiary, received a letter of award from Tata Power Mumbai Distribution on July 13, 2020, to develop a 225 MW hybrid renewable project,” Tata Power said in a BSE filing.

The energy will be supplied to Tata Power Mumbai Distribution under a power purchase agreement (PPA). This agreement is valid for 25 years from the scheduled commercial operation date. Tata Power Green Energy Ltd won this capacity in a bid finalized recently by Tata Power Mumbai Distribution, the filing said.
Tata Power Green Energy Ltd (TPGEL) said the plant is expected to generate about 700 million units of energy per year and will annually offset about 700 million kg of carbon dioxide.

According to Tata Power, the project is required to be commissioned within 18 months from the date of execution of the power purchase agreement. “Tata Power’s renewable capacity will increase to 3,782 MW, out of which 2,637 MW is operational and 1,145 MW is under implementation including 225 MW won under this letter of award,” the company said. “Tata Power’s renewable capacity will increase to 3,782 MW, out of which 2,637 MW is operational and 1,145 MW is under implementation including 225 MW won under this letter of award,” the company added.

Praveer Sinha, CEO & MD, Tata Power, had said “we are proud to announce that we have been awarded 100 MW solar project in Maharashtra, and are thankful to the Government of Maharashtra and the officials at MSEDCL for this opportunity. With this award, the cumulative capacity of renewables will be 3,557 MW.” Said, Praveer Sinha, CEO & MD, Tata Power.
Shares of Tata Power were trading 0.85 percent