Tata Power recently made an announcement in a press release that it has received a contract from Gujarat Urja Vikas Nigam Limited to develop a 100 Mega Watt Solar project in Raghanesda Solar Park of Gujarat.
The solar energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a tenure of 25 years from the scheduled commercial operation date.
The Company won the deal in a bid announced in March 2019. // did not mention what the rate of compensation will be.
The solar project, to be implemented via wholly owned subsidiary of Tata Power Renewable Energy Limited, has has to be commissioned within 15 months from the date of execution of the Power Purchase Agreement.
The Solar Plant is expected to generate 250 MUs of energy per year and will annually offset approximately 250 Million Kg of CO2.With this win, TPREL’s capacity under implementation would become 500 MW, in addition to the operating capacity of 2,268 MW.
Tata Power said it on a big mission to create a new milestone of generating 35-40 per cent of its total generation capacity from renewable and clean energy sources.
Tata Power Chief Executive Officer and Managing Director Praveer Sinha said, “We have been awarded 100-MW solar power project in Gujarat, and are thankful to the government of Gujarat and the officials at the GUVNL for this opportunity.”