- With the latest win, the total renewables capacity of Tata Power reaches 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation.
Tata Power-backed wholly-owned subsidiary TP Saurya (TPSL) has received the ‘Letter of Award’ from Solar Energy Corporation of India (SECI) for setting up a 600 MW hybrid (wind and solar) power project in Karnataka. The subsidiary received the LoA through tariff-based competitive bidding followed by an e-Reverse auction. Tata Power on Wednesday said the project will be commissioned within 24 months from the PPA execution date.
Dr. Praveer Sinha, CEO & MD of Tata Power, said “We are enthused with the win of 600MW hybrid project for SECI as it reaffirms Tata Power’s commitment to building a sustainable ecosystem for transitioning towards a greener future. Renewable hybrid projects are a game changer in India as they can generate round-the-clock power with high-reliability levels to help meet country’s decarbonisation goals.”
With the latest win, the total renewables capacity of Tata Power reaches 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation.
On BSE, Tata Power shares closed at ₹220.85 apiece broadly flat compared to the previous closing. The company’s market cap is around ₹70,569.07 crore.
The company will be announcing its financial performance for the quarter ending June 30, 2022 (Q1FY22) period on July 26.
Last week, Tata Power signed an MoU with the Tamil Nadu government to invest approximately ₹3,000 crore for setting up a greenfield 4GW Solar Cell and 4GW Solar Module manufacturing plant in Tirunelveli District of Tamil Nadu. The MoU outlines the commitment made by both parties to stimulate clean energy transition and employment in the state. The investment in the plant will be made over a period of 16 months and will directly or indirectly create over 2,000 employment opportunities with a majority of them being women employees.
Last month, Tata Power commissioned India’s largest floating solar power project in Kayamkulam, Kerala on a 350-acre water body, backwaters area, having an installed capacity of 101.6 Megawatt Peak. With the commissioning of this project, the company’s total utility-scale solar project portfolio touches 9.7GWp.
Tata Power is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,749 MW.
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