Tata Power to develop 250MW solar project in Karnataka
11 Jul 2018
Tata Power’s wholly-owned subsidiary, Tata Power Renewable Energy Ltd (TPREL), will be developing a 259 Mwa950 MW x 5) solar power project in Karnataka’s Tumkur district. Karnataka Renewable Energy Development (KREDL) awarded the project to TPREL in a competitive bidding.
The project will be set up at the Pavagada Solar Park in Tumkur district and the energy will be supplied to the state discom under a power purchase agreement (PPA), valid for a period of 25 years.
The company won the project quoting a tariff of Rs2.85/kWH in April this year. The projects will be commissioned within 12 months from the date of signing of the PPA.
Speaking on this achievement, Praveer Sinha, CEO and MD, Tata Power, said, “We are proud to announce that we have been awarded the 250MW solar project in Karnataka, and thankful to the government of Karnataka and the officials at KREDL for this opportunity. We are delighted to contribute towards the realisation of our country’s commitment towards clean and green energy through solar power generation.”
“This is an important milestone in our endeavour to generate 35-40 per cent of Tata Power's total generation capacity from clean energy sources. Pavagada Solar Park has provided us a unique opportunity to enhance our generation capacities in the same location and post development we will have the optimisation advantage of operating more than 400MW AC power from Pavagada,” Ashish Khanna, president, renewables, Tata Power, said.
“Establishment of solar project in this area will improve the revenue to the government and enables Pavagada to be one of the pioneers in solar park in the entire country,” he added.
The 250MW solar project is the largest capacity won by the company in a bid so far. With this addition, TPREL will have an overall operational capacity of 400MW in Pavagada Solar Park as 150MW has already been operational since FY18. The plant is expected to annually offset approximately 578,631 tCO2e per year. TPREL has an operation capacity of 675MW making it a key player in the renewable energy space. The project will meet 1.6 per cent of the company’s total annual consumption.