Tata Power Renewable Energy Ltd. (TPREL), India's largest renewable energy company and Tata Power's wholly-owned subsidiary, today announced that the Company has commissioned its 50 MW DCR solar plant at Pavagada Solar Park in Karnataka. The project was won by the Company on 4th April 2016 under the National Solar Mission Phase-II Batch-II Tranche-I State Specific Bundling Scheme. With this development, TPREL's total installed operating capacity now stands at 1664 MW.
The 50 MW solar plants have been built over 253 acres. Sale of power from solar plant has been tied up under a 25-year Power Purchase Agreement with NTPC Ltd. at a tariff of Rs. 4.84/ unit.
Mr. Rahul Shah, CEO, Tata Power Renewable Energy Limited, said, "The commissioning of the 50 MW solar plant in Karnataka fortifies our position of being the largest renewable energy company in the country, with a strong presence in solar power generation. We prefer development opportunities in solar parks as land and evacuation are provided, and we can focus on the project. We are extremely proud of this development and we continue to seek potential areas across India and in select International markets through organic and inorganic opportunities."
TPREL recently commissioned 25 MW solar plant in Charanka, Gujarat Solar Park, Gujarat,30 MW solar plant in Palaswade in Maharashtra and 100 MW Solar plant at Pavagada Solar park in Karnataka.Tata Power's vision is to have 35-40% of the Company's total generation capacity from non-fossil fuel sources by 2025. Tata Power's renewable energy capacity this year crossed 2000 MW and green generation portfolio crossed the 3000 MW mark.
About Tata Power Renewable Energy Limited:
TPREL is a wholly owned subsidiary of Tata Power, and is Tata Power's primary investment vehicle for clean and renewable energy based power generation capacity. TPREL's present operating capacity is 1664 MW comprising of 530 MW wind and 1134 MW solar capacity located in the states of Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamilnadu, Karnataka and Rajasthan. The company is also in the process of implementing 121 MW of renewable power projects at various locations on Greenfield basis. In order to aggregate its clean and renewable energy portfolio, Tata Power has initiated the process of carving out its 380 MW clean energy assets from its books into TPREL. TPREL's portfolio grows to about 2.2 GW making it a leading Renewable Energy Company in India. TPREL is seeking to grow its renewable portfolio in India and in select international markets through organic and inorganic opportunities. Visit us at www.tatapowerrenewables.com
About Tata Power:
Tata Power is India's largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10699 MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely “Tata Power Delhi Distribution Limited" with Delhi Government for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country's first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. It is also one of the largest renewable energy players in India with a clean energy portfolio of 3310 MW. Its international presence includes strategic investments in Indonesia through a 30% stake in the leading coal company PT Kaltim Prima Coal (KPC), 26% stake in mines at PT Baramulti Suksessarana Tbk ("BSSR"); in Singapore through Trust Energy Resources to securitize coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called 'Cennergi' to develop projects in sub-Sahara Africa; in Zambia through 50:50 joint venture with ZESCO for 120 MW Hydro which has become operational in 2016; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan. With its track record of technology leadership, project execution excellence, world class safety processes, customer care and driving green initiatives, Tata Power is poised for a multi-fold growth and committed to 'lighting up lives' for generations to come”. Visit us at: www.tatapower.comFor media queries, please contact: