Tata Power Limited has received a Letter of Award (LOA) from Gujarat electricity distribution authority, Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a 100 megawatt (MW) solar power project in Dholera Solar Park.
The power will be supplied to GUVNL under a 25-year Power Purchase Agreement (PPA) from the scheduled commercial operation date.
The Company had won the project in a competitive bid announced by GUVNL in March 2020.
As per the terms of the LoA, the project has to be commissioned within 15 months from the date of execution of the PPA. The company received the LoA on October 9.
With this award, the cumulative capacity under development in Gujarat would be 620 MW out of which 400 MW will be in Dholera Solar Park, a Tata Power statement said here.
The solar plant will generate about 246 million units of electricity per year and will annually offset approximately 246 million kilograms of carbon dioxide.
Company aims to generate 35-40 per cent of Tata Power’s total generation capacity from clean energy sources.
Tata Power’s renewable energy generation capacity has increased to 3,936 MW, of which 2,637 MW is operational and 1,299 MW is under implementation including 100 MW won under this LOA.
Tata Power shares lost over 2 per cent on the BSE Wednesday to close at ₹52.90.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.