Tata Power arm bags order to develop 225 megawatt hybrid renewable project

Tata Power on Thursday said its wholly-owned subsidiary TPGEL has bagged an order to develop a 225-megawatt hybrid renewable power project.

"Tata Power Green Energy Ltd (TPGEL), the company's wholly-owned subsidiary, received a letter of award from Tata Power Mumbai Distribution on July 13, 2020 to develop a 225 MW hybrid renewable project," Tata Power said in a BSE filing.

The energy will be supplied to Tata Power Mumbai Distribution under a power purchase agreement (PPA), valid for a period of 25 years from the scheduled commercial operation date, it added.

TPGEL won this capacity in a bid finalised recently by Tata Power Mumbai Distribution, the filing said.

Tata Power said the project is required to be commissioned within 18 months from the date of execution of the PPA.

"Tata Power's renewable capacity will increase to 3,782 MW, out of which 2,637 MW is operational and 1,145 MW is under implementation including 225 MW won under this letter of award," the company said.

Shares of Tata Power were trading 0.85 percent lower at Rs 46.70 apiece on BSE.