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17 August, 2018 03:17 IST
Tata Power arm commissions 25 MW solar plant in Gujarat
Source: IRIS | 07 Nov, 2017, 03.20PM
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Tata Power Renewable Energy (TPREL), India's largest renewable energy company and Tata Power's wholly-owned subsidiary, today announced that the company has commissioned its 25 MW solar plant in Charanka, Gujarat Solar Park. The project was won by the company in November 2016 under the National Solar Mission of Government of India through VGF mode, and its commissioning is earlier than timelines of December 2017 in the PPA. With this development, TPREL's total installed operating capacity now stands at 1484 MW.
 
The solar plant has been built over 113 acres of land and the Sale of power from solar plant has been tied up under a 25 year Power Purchase Agreement with SECI at a tariff of Rs. 4.43/ unit.
 
Rahul Shah, CEO, Tata Power (Q,N,C,F)* Renewable Energy, said, "We aim to create a focused renewable energy business in TPREL with a sustained growth trajectory. The commissioning of the 25 MW solar plant in Gujarat marks a milestone in our drive, to grow our portfolio of clean and renewable energy generation. We are grateful to the Government of Gujarat and to the nodal agencies for their support while developing the project. As always, we will continue to look for opportunities to acquire operating wind and solar plants, apart from our own organic growth pipeline, to grow our generation portfolio."
 
Tata Power's vision is to have 35-40% of the company's total generation capacity from non-fossil fuel sources by 2025. Tata Power's renewable energy capacity this year crossed 2000 MW and green generation portfolio crossed the 3000 MW mark.

Shares of the company declined Rs 1.7, or 2.01%, to trade at Rs 82.85. The total volume of shares traded was 375,804 at the BSE (3.09 p.m., Tuesday).

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