Tata Power Renewable Energy Limited (TPREL), one of the leading players in the renewable energy sector and a subsidiary of The Tata Power Company Limited (Tata Power), has successfully secured a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), a wholly owned entity under the Maharashtra Government, for the development of a 400 MW Wind-Solar Hybrid project in Maharashtra.
The LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW, making this the largest renewable energy project in state of Maharashtra till date for TPREL.
The project is part of MSEDCL's broader initiative to meet the state's Renewable Purchase Obligation (RPO) and address future power demands at competitive tariff. The LoA was issued through a competitive bidding process conducted via an electronically based reverse auction portal.
TPREL's competitive edge and expertise in delivering large-scale renewable projects played a pivotal role in securing this contract. The project is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL and will play a crucial role in cutting carbon emissions, with an estimated reduction of 895 million kilograms of CO2 annually.
The electricity generated by the hybrid project, which combines solar and wind energy, will be supplied to MSEDCL, aiding the utility company in meeting its energy needs sustainably and enhancing Maharashtra's renewable energy portfolio. The installation will make efficient use of local land resources in the state, further boosting regional development. TPREL's collaboration with the Government of Maharashtra and Discoms reinforces its role in advancing the state's renewable targets and transitioning to a low-carbon future, underscoring TPREL's commitment to green energy innovation and meeting the evolving power demands responsibly.
With this achievement, TPREL's total renewable energy capacity now stands at 10.5 GW with 5.7 GW of projects in various stages of implementation. Its operational capacity has reached 4.8 GW, comprising 3.8 GW of solar and 1 GW of wind energy projects.
Shares of Tata Power Company Limited was last trading in BSE at Rs. 445.05 as compared to the previous close of Rs. 443.30. The total number of shares traded during the day was 599812 in over 14246 trades.
The stock hit an intraday high of Rs. 450.85 and intraday low of 439.65. The net turnover during the day was Rs. 266990292.00. |
