Tata Power Renewable Energy Ltd (TPREL) has signed Power Purchase Agreement (PPA) with Solar Corp of India for a 100 MW solar project at Anantapuram solar park in Andhra Pradesh. The commercial operations date (COD) of the project as per the PPA is October 16, 2017, Tata Power said in a statement.
The project has been secured through bidding in the open category under the Jawaharlal Nehru National Solar Mission (JNNSM). TPREL is a wholly owned subsidiary of The Tata Power Company Ltd.
With the signing of this PPA with SECI (Solar Corp of India), TPREL has further consolidated its position as country’s largest renewable energy company, it said. The 100 MW solar project based at Anantapuram and has a COD of less than a year.
“This move is in line with the government’s set target of 100 GW from solar energy by 2017. In the next 5 years, the company plans to significantly add to its solar generation capacity,” TPREL CEO & Executive Director Rahul Shah said in statement.
The JNNSM, launched in January 2010, is a major initiative of the government that aims to establish India as a global leader in solar energy by creating favourable policy conditions for its diffusion across the country. JNNSM had initially set a target to 20 GW of solar installations by 2022 that was reset to achieve five times more at 100 GW by 2022.
TPREL is Tata Power’s primary investment vehicle for clean and renewable energy based power generation capacity. Its current operating capacity is 294 MW, comprising 240 MW wind and 54 MW solar, and is located in the states of Maharashtra, Gujarat, Madhya Pradesh and Rajasthan.
The company is also in the process of implementing nearly 500 MW of renewable power projects at various locations. With the acquisition of Welspun Renewable Energy Pvt Ltd, and the project in pipeline, TPREL’s portfolio has grown to about 2,400 MW, making it the largest renewable energy company in India, the company said.