Tata Power arm gets LoA for 330 MW solar project

By: |
September 02, 2021 4:26 PM

This project has been awarded through tariff-based competitive bidding followed by e-reverse auction

tata power, Madhya Pradesh Power Management Company Limited, letter of award from Rewa Ultra Mega Solar Limited , setting up solar projects in Madhya pradeshThe projects will be set up at the Neemuch Solar Park in Neemuch district at Madhya Pradesh

Tata Power on Thursday said its arm TP Saurya has received a letter of award from Rewa Ultra Mega Solar Limited for setting up of 330 MW solar project in Madhya Pradesh. “TP Saurya Limited (TPSL), a wholly owned subsidiary of Tata Power, has received a ‘Letter of Award’ (LoA) from Rewa Ultra Mega Solar Limited (RUMSL) to build 330 MW (Unit-1:160 MW + Unit-2:170 MW) of solar project in Neemuch Solar Park of Madhya Pradesh,” a company statement said.

This project has been awarded through tariff-based competitive bidding followed by e-reverse auction, it stated. Chief Minister of Madhya Pradesh Shivraj Singh Chouhan, in the presence of Hardeep Singh Dang, Minister of Department of New and Renewable Energy; Sanjay Dubey (IAS), Principal Secretary; Akash Tripathi (IAS), MD, MPPMCL & other key dignitaries handed over the LOA to Ashish Khanna, President – Renewables, Tata Power.

Speaking on the achievement, Praveer Sinha, CEO & MD, Tata Power, said in the statement, “We are glad to receive this prestigious order for development and operation of 330 MW solar project from Rewa Ultra Mega Solar in Madhya Pradesh. We have been progressively growing our portfolio of grid-scale solar plants across the country.”

The projects will be set up at the Neemuch Solar Park in Neemuch district at Madhya Pradesh and the energy will be supplied to the Indian Railways and the Madhya Pradesh Power Management Company Limited under power purchase agreement (PPA) valid for a period of 25 years.

The company has won this capacity in a bid finalised through reverse auction by RUMSL. The project will be commissioned within 19 months from the date of execution of the PPA.

With this, the total renewable capacity of Tata Power will reach 4361 MW with an installed capacity of 2,947 MW and 1,414 MW under implementation.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1CCI probe finds Google guilty of anti-competitive practices in mobile OS market, report says
2Law does not permit any relief to Mistrys once their case on oppression failed
3Vaccine alliance: Serum to pick 15% stake in Biocon Biologics