TP Saurya, a subsidiary of Tata Power, will build a 250 megawatt (MW) project at the Dondaicha solar park in Maharashtra’s Dhule district, Tata Power said on Monday.
The company has received a ‘letter of intent’ from the Maharashtra State Power Generation Company (Mahagenco), which has also conveyed consent to purchase the power generated from the solar plant, Tata Power said in a statement.
The company currently has 185 MW solar plants and 239 MW wind power plants in the state.
According to sources, Mahagenco will procure power from the plant at a landed cost of Rs 2.57/unit, subject to approval by the Maharashtra Electricity Regulatory Commission.
The solar plant project will be commissioned within 15 months from the date of the execution of the power purchase agreement, Tata Power said. “The project will further promote the share of renewable power in the overall energy mix in Maharashtra,” Praveer Sinha, CEO of Tata Power, said.
Tata Power currently has a solar portfolio of 1,765 MW across the country and its wind power capacity stands at 932 MW. It also has 1,664 MW of renewable energy capacity under implementation. The company aims to increase the share of green energy in its power generation portfolio to 80% by FY30, up from the current 31%.
In August, the company quoted the lowest tariff of Rs 2.14/unit in the auction conducted by state-run Rewa Ultra Mega Solar to build 330 MW solar capacity in Madhya Pradesh.