 "Tata Power's arm acquires 30 MW solar project in Maharashtra")
Tata Power's 100% subsidiary Tata Power Renewable Energy (TPRE) has won 30 MW solar gird connected PV project in Maharashtra under the National Solar Mission. TPRE has received the letter of intent to develop the project and it will sign a 25-year power purchase agreement with NTPC Vidyut Vyapar Nigam Ltd.
In a release, TPRE CEO and ED said: '' This is the third LoI received by TPREL in recent months and brings our solar bid wins to 145 MW. Receiving this LoI 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 in line with the government set target of 100 GW from solar energy by 2017, he said.
''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," he added.
TPRE's present operating capacity is 294 MW comprising 240 MW wind and 54 MW solar located in Maharashtra, Gujarat, Rajasthan and Madhya Pradesh. Tata Power has initiated the process to carve out around 500 MW of assets from its books to TPRE.
TPRE last week agreed to acquire Welspun Renewables Energy from privately held Welspun Energy. The acquisition will make TPRE the largest renewable power company in India with renewable assets portfolio of about 2,300 MW. Welspun Renewables Energy (WREL) has about 1,140 MW of renewable power projects comprising of about 990 MW solar power projects and about 150 MW of Wind power projects. Of the total capacity, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.