National, 21 June, 2016: Tata Power, India’s largest integrated power company, today announced that the Company’s 100% subsidiary, Tata Power Renewable Energy Ltd. (TPREL) has won Solar grid connected photovoltaic project of 30 MW in Maharashtra. The projects have been awarded in the DCR category under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase-Il Batch-IlI Tranche-l under ‘State Specific Bundling Scheme’.
TPREL has received the Letter Of Intent to develop the projects and will sign a 25 year Power Purchase Agreement (PPA) with NTPC Vidyut Vyapar Nigam Ltd.
Commenting on winning the project, Mr. Rahul Shah, CEO & ED-Tata Power Renewable Energy Ltd, said, “This is the third LOI received by TPREL in recent months and brings our solar bid wins to 145 MW. Receiving this Letter of Intent for 30 MW of non-fossil fuel energy will further add to our total generation capacity, thereby, significantly increasing our green footprint. This move is line with the Government’s set target of 100 GW from solar energy by 2017. As a company, we will continue to grow our capacity through organic and inorganic means over the next few years to contribute to Tata Power’s aggressive target of 20,000 MW of total capacity by 2025.. ”
The JNNSM, launched in January 2010, is a major initiative of the Government of India that aims to establish India as a global leader in solar energy by creating favourable policy conditions for its diffusion across the country. JNNSM had initiatilly set a target to 20 GW of solar installations by 2022, that was reset to achieve five times more at 100 GW by 2022.