National, September 18th, 2024: Tata Power Renewable Energy Limited (TPREL), one of the leading players in the renewable energy sector and a subsidiary of Tata Power Company Limited, has successfully secured a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), a wholly owned entity under the Maharashtra Government, for the development of a 400 MW Wind-Solar Hybrid project in Maharashtra.
The LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW, making this the largest renewable energy project in state of 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.
TPREL's competitive edge and expertise in delivering large-scale renewable projects played a pivotal role in securing this contract. The project is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL & 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 utility company in meeting its energy needs sustainably and enhancing Maharashtra’s renewable energy portfolio. The installation will make efficient use of local land resources in the state, further boosting regional development. 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.
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.
About Tata Power Renewable Energy Limited:
Tata Power Renewable Energy Limited (TPREL) is a subsidiary of The Tata Power Company Limited and is one of the country’s most significant renewable energy players. TPREL is a developer of renewable energy projects (including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage) that it owns, operates, and maintains. It also offers comprehensive green energy solutions for rural and urban areas like turnkey, EPC and O&M solutions for various business segments like utility-scale projects, solar rooftop, and solar pump systems. Alongside its extensive portfolio of renewable solutions, the company boasts a cutting-edge solar cell and module manufacturing plant in Bengaluru, with capacities of 530 MW for solar cells and 682 MW for modules. Additionally, the company’s 4.3 GW cells and module manufacturing plant, TP Solar has completed the construction of a 4 GW module manufacturing facility & 2 GW of cell manufacturing facility. In addition, TPREL also provides electric vehicle (EV) charging solutions across various segments and other advisory solutions across the renewable sector. As on date, TPREL’s total renewable utility capacity is 10.5 GW (PPA capacity is 8.4 GW) including 5.7 GW projects under various stages of implementation and its operational capacity is 4.8 GW, which includes 3.8 GW solar and 1 GW wind. Presently, the company's solar EPC portfolio is more than 15 GWp of ground-mount utility-scale, over 2 GW of rooftop and distributed ground-mounted systems. TPREL aims to provide energy access to millions of people across the country via its integrated green energy solutions. Know more: www.tatapowersolar.com
About Tata Power:
Tata Power is a leading integrated power company and a part of Tata Group, India’s largest multi-national business conglomerate. The company has a diversified portfolio of 15010 MW, spanning across the entire power value chain - from renewable and conventional energy generation to transmission & distribution, trading, storage solutions and solar cells and module manufacturing. As a pioneer of clean energy transition in India, Tata Power has 6150 MW of clean energy generation, which constitutes 41% of its total capacity. The company has also committed to achieve carbon neutrality before 2045.Tata Power has established India’s most comprehensive clean energy platform, with offerings such as rooftop solar, microgrids, storage solutions, EV charging infrastructure, home automation et al. The company has also attracted global investors to support its growth and vision. Tata Power has successfully partnered with public and private entities in generation, transmission & distribution sectors in India, serving 12.5 million customers across the country. To know more about Tata Power, visit www.tatapower.com
Disclaimer:
The following press release/announcement may contain forward-looking statements within the meaning of applicable securities laws and regulations. These statements are based on management's current views, expectations, assumptions, and projections regarding the Company's future performance, business plans, growth prospects, competitive and regulatory environment, and other related matters. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in the statements. Factors that could cause actual results to differ materially from those contemplated in the forward-looking statements are not limited to changes in economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, alterations in the business environment, fluctuations in Government regulations, laws, statutes, judicial pronouncements, and other incidental factors. The Company does not undertake any obligation to publicly update or revise any forward-looking statements based on subsequent events, information, or developments, except as required by applicable laws and regulations
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