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The project includes an initial contract capacity of 200 MW with a greenshoe option for an extra 200 MW. This makes it the largest renewable energy project for TPREL in Maharashtra.
The project is a component of MSEDCL’s wider initiative to fulfil the state’s Renewable Purchase Obligation (RPO) and meet future power demands at competitive rates.
The LoA was awarded through a competitive bidding process conducted via an electronic reverse auction platform.
The project is anticipated to be finished within 24 months of signing the Power Purchase Agreement (PPA) between TPREL and MSEDCL. It is expected to significantly reduce carbon emissions with an estimated annual cut of 895 million kilograms of CO2.
The electricity produced by the hybrid project, which integrates solar and wind energy, will be provided to MSEDCL.
The installation will effectively utilise local land resources further promoting regional development.
With this LoA, TPREL’s total renewable energy capacity has reached 10.5 GW, including 5.7 GW of projects at different stages of development. Its operational capacity now stands at 4.8 GW, which consists of 3.8 GW from solar projects and 1 GW from wind energy projects.
In an interview with CNBC-TV18, Praveer Sinha, CEO of Tata Power, had earlier announced that the company’s 4.3 gigawatt (GW) solar module manufacturing plant near Tuticorin in Tamil Nadu, which has been operational for nearly a year, is now running at full capacity.
He added that the first 2GW solar cell manufacturing unit within the plant has commenced operations, with the unit expected to become fully functional by the end of October 2024.
Shares of Tata Power Co Ltd traded 1.2% lower at ₹439.70 a piece on the BSE around 2:15 PM
(Edited by : Ajay Vaishnav)
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