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