Tata Power, India's largest integrated power company, today announced that its 100% subsidiary Tata Power Renewable Energy Ltd. (TPREL) commissioned 150 MW solar capacity in Village Chhayan, Tehsil Pokharan, State Rajasthan. With this, the overall operating renewable capacity of TPREL now stands at 2,628 MW in India.
The Company had won this capacity in a bid at a tariff of INR 2.72/kWh announced by MSEDCL during May 2018. The sale of power from this solar plant has been tied up under a 25 year Power Purchase Agreement with Maharashtra State Electricity Distribution Co. Ltd. The project is connected at 220 kV to PGCIL's Bhadla substation making it the Company's first ISTS solar project.
The Company is currently developing 500 MW of renewable capacity across the country including 100 MW under PPA signed with UPPCL and NPCL in Uttar Pradesh, 100 MW under a PPA signed with GUVNL at Raghanesda solar park and 250 MW at Dholera solar park.
"Renewable energy is the future for 'New India' and will play a big role in providing the country "24X7 Power for All by 2019". For a tropical country like India, solar energy has the highest potential. Tata Power is focused to constantly proliferate the group's renewable energy portfolio and we plan to generate 35 - 40% of Tata Power's total generation from clean energy sources, largely through organic growth." Mr Praveer Sinha, CEO & Managing Director, Tata Power.
"The commissioning of 150 MW capacity in Rajasthan has fortified our position as a leading renewable energy company in the country with a strong presence in solar power generation. We will continue to seek potential of sustainable growth of renewable power in India . This is our first ISTS project and first to follow Feb 2019 CEA guidelines, hence showcases our ability to execute complex solar projects" Mr. Ashish Khanna, President - Renewables, Tata Power said.
Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.64.3 as compared to the previous close of Rs. 64. The total number of shares traded during the day was 2712960 in over 2552 trades.
The stock hit an intraday high of Rs. 64.65 and intraday low of 62.5. The net turnover during the day was Rs. 172999157.