Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power, has clinched a 400-megawatt hybrid project from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), marking TPREL’s most significant renewable energy project in Maharashtra till now.
What Happened: The announcement was made on Wednesday afternoon. The project comprises an original contracted capacity of 200 megawatts, with a greenshoe option for an additional 200 megawatts.
The project is a part of MSEDCL’s wider initiative to fulfil the state’s Renewable Purchase Obligation (RPO) and cater to future power demands at a competitive tariff. The Letter of Award (LoA) was issued through a competitive bidding process conducted via an electronically based reverse auction portal.
The project is slated to be completed within 24 months from the signing of the power purchase agreement between TPREL and MSEDCL. It is projected to cut down carbon emissions by approximately 895 million kg of CO2 annually.
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The electricity generated by the hybrid project, which amalgamates solar and wind energy, will be supplied to MSEDCL, assisting the utility company in meeting its energy needs sustainably and boosting Maharashtra's renewable energy portfolio.
With this, TPREL’s total renewable energy capacity now stands at 10.5 gigawatts with 5.7 gigawatts of projects in various stages of implementation. Its operational capacity has reached 4.8 gigawatts, comprising 3.8 gigawatts of solar and 1 gigawatt of wind energy projects.
Earlier this month, the company commenced the production of solar cells at its 4.3-gigawatt plant in Tirunelveli, Tamil Nadu, marking the launch of operations at India's largest single-location solar cell and module manufacturing facility.
Last week, TPREL, in collaboration with Tata Motors, announced plans to establish 200 fast-charging stations for electric commercial vehicles across major Indian cities.
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