Tata Power to develop 100 MW solar project in Maharashtra

Tata Power on Friday said its wholly-owned arm has bagged a contract to develop a 100 MW solar project in Maharashtra.

"Tata Power Renewable Energy Limited (TPREL) has received a letter of award from Maharashtra State Electricity Distribution Co Ltd (MSEDCL) to develop a 100 MW solar project in Maharashtra," the company said in a filing to BSE.

The energy will be supplied to MSEDCL under a power purchase agreement, valid for a period of 25 years from scheduled commercial operation date.

The project is required to be commissioned within 18 months from the date of execution of the power purchase agreement (PPA).

"With this award, the cumulative capacity of renewables will be 3,557 MW," Tata Power CEO and MD Praveer Sinha said.

The plant is expected to generate about 240 million units of energy per year and will annually offset approximately 240 million kg of CO2.

Tata Power’s renewable capacity will increase to 3,557 MW, out of which 2,637 MW is operational and 920 MW is under implementation including 100 MW won under this letter of award, the company said.

Shares of Tata Power were trading at Rs 43.65 apiece on BSE, up 1.75 percent from their previous close.