Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, on Wednesday announced that it has successfully secured a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), under the Maharashtra government, for the development of a 400 MW Wind-Solar Hybrid project in the state.
In a regulatory filing, the company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL.
The project is part of MSEDCL’s broader initiative to meet the state’s Renewable Purchase Obligation (RPO) and address future power demands at competitive tariff. The LoA was issued through a competitive bidding process conducted via an electronically based reverse auction portal.
The project, it added, is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL and will play a crucial role in cutting carbon emissions, with an estimated reduction of 895 million kilograms of CO2 annually.
The electricity generated by the hybrid project, which combines solar and wind energy, will be supplied to MSEDCL, aiding the company in meeting its energy needs sustainably and enhancing Maharashtra’s renewable energy portfolio.
“TPREL’s collaboration with the Government of Maharashtra and Discoms reinforces its role in advancing the state’s renewable targets and transitioning to a low-carbon future, underscoring TPREL’s commitment to green energy innovation and meeting the evolving power demands responsibly,” it said.
With this achievement, TPREL’s total renewable energy capacity now stands at 10.5 GW with 5.7 GW of projects in various stages of implementation. Its operational capacity has reached 4.8 GW, comprising 3.8 GW of solar and 1 GW of wind energy projects.
From: financialexpress
Financial News
