Tata Power gets LOA for 225 MW hybrid renewable project

India’s largest power generation company, Tata Power, announced on Thursday that its wholly-owned subsidiary, Tata Power Green Energy Limited (TPGEL), is set to develop a 225 megawatt (MW) hybrid renewable project after receiving a letter of award (LOA) on July 13, 2020 from Tata Power Mumbai Distribution.

The plant is expected to generate about 700 million units (MU) per year, which will counterbalance 700 million kgs of carbon dioxide per year. Tata Power’s renewable capacity will increase to 3,782 MW, of which, 2,637 MW will be operational and 1,145 MW will be under implementation including 225 MW one.

The energy is to be supplied for a period of 25 years from the said commercial operational date to Tata Power Mumbai Distribution under a power purchase agreement (PPA). The project is to be commissioned within 18 months from the date of execution of the PPA.

Along with its subsidiary and jointly controlled entities, Tata Power has an installed capacity of 12,742 MW. It is serving as a huge distribution customer base of more than 2.6 million in India. Being a pioneer in this field, it has presence across all generations of renewable as well as conventional power.

At around 12.47 pm on Thursday, the share of Tata Power was trading at Rs 46.8 with a decline of 0.64 per cent on BSE.