Tata Power Renewable Energy Ltd (TPREL), India’s largest renewable energy company, today announced the signing of the Power Purchase Agreement (PPA) for a 100 MW solar project at Anantapuram solar park in Andhra Pradesh with the Solar Corporation of India (SECI). TPREL is a wholly owned subsidiary of The Tata Power Company Ltd., India's largest integrated power company. The Commercial Operations Date (COD) of the project as per the PPA is 16th of October 2017. The project has been secured through bidding in the Open category under the Jawaharlal Nehru National Solar Mission (JNNSM).
With the signing of this Power Purchase Agreement (PPA) with SECI, TPREL has further consolidated its position as India’s largest renewable energy company. The 100 MW solar project based at Anantapuram has a challenging COD of less than a year, reiterating Tata Power’s technology leadership, superior engineering capabilities, and executional efficiency in implementing mega solar projects in a record timeline.
Speaking on this development, Mr. Rahul Shah, CEO & Executive Director, Tata Power Renewable Energy Ltd, said, "We are delighted at this project win as it further fortifies our leadership in renewable energy generation in India. The solar project at Anantapuram solar park will add 100 MW of clean energy thereby significantly increasing our green footprint. This move is in line with the Government’s set target of 100 GW from solar energy by 2017. In the next 5 years, the Company plans to significantly add to its solar generation capacity."
The JNNSM, launched in January 2010, is a major initiative of the Government of India that aims to establish India as a global leader in solar energy by creating favourable policy conditions for its diffusion across the country. JNNSM had initially set a target to 20 GW of solar installations by 2022 that was reset to achieve five times more at 100 GW by 2022.
About Tata Power Renewable Energy Limited:
TPREL is a wholly owned subsidiary of Tata Power. TPREL is Tata Power's primary investment vehicle for clean and renewable energy based power generation capacity. TPREL's present operating capacity is 1319MW, comprising 426 MW wind and 893 MW solar, located in the states of Maharashtra, Gujarat, Madhya Pradesh, and Rajasthan. The company is also in the process of implementing nearly 500 MW of renewable power projects at various locations. In order to aggregate its clean and renewable energy portfolio, Tata Power has initiated the process of carving out its 500MW clean energy assets from its books into TPREL. TPREL is seeking to grow its renewable portfolio in India and in select international markets through organic and inorganic opportunities. With the acquisition of Welspun Renewable Energy Pvt. Ltd., and the project pipeline, TPREL's portfolio grows to about 2,400 MW, making it the largest Renewable Energy company in India.
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 presently has an installed gross generation capacity of 9,432 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. Post WREPL acquisition the installed gross generation capacity would be 10,573 MW. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely 'Tata Power Delhi Distribution Limited' with Delhi Vidyut Board 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 1,050 MW power project in Jharkhand. Tata Power is serving more than 2 million distribution consumers in India and has developed the country’s first 4,000 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. 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 Pte. Limited 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-Saharan 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 and IFC for development of 185 MW hydro project which is scheduled to be commissioned in 2016; in Australia through investments in enhanced geothermal and clean coal technologies 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.com