The Tata Power solutions gets another feather added to their already jeweled achievements as they win a 150 MW solar PV project in the state of Maharashtra. Presently, Tata Power is the largest integrated power industry in the country.
TPREL has recently received the Letter of Award to develop the project and is all set to sign a 25- year Power Purchase Agreement (PPA) with the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL). The memorandum thus signed will be subject to the approval of the Maharashtra Electricity Regulatory Commission (MERC) with applicable tariff.
“We aim to make the country self-sufficient in energy generation and be a support to attain world leadership in this sector. TPREL is towards Tata Power group’s renewable energy portfolio and achieve 30-40% generation capacity through clean energy sources. To achieve this goal, we are evaluating clean and green energy projects which are in line with our core business value of sustainable growth & returns to the shareholders and will further enhance and increase our clean energy footprint,” Ashish Khanna, President of the Renewables sector, Tata Power has been quoted.
This project is by far a part of MSEDCL’s 1000 MW solar power projects for which MSEDCL had invited bids through the competitive bidding process and e- reverse auction for a period of 25 years.
Praveer Sinha, the CEO & Managing Director, Tata Power has given his statement where he has said, “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. So that’s a core area that Tata Power is looking at, and I’m sure in a very near future we will attain and maintain the leadership position.”
This has been regarded as a major achievement in the renewable energy sector of the country and the project is supposed to bring remarkable changes of energy distribution in the country.