Source by www.pv-magazine-india.com
The company’s renewable capacity under implementation has now swelled to 500 MW, which is in addition to the operating capacity of 2,268 MW.To meet the renewable purchase obligation targets of its power distribution utilities, Gujarat plans to have an operational solar power capacity of 5.5 GW – plus 1.5 GW of wind capacity – by March 2022.
Tata Power Renewable Energy Limited (TPREL), wholly owned subsidiary of Tata Power, has received a Letter of Award (LOA) from state utility Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat. The company had won this capacity in a 700 MW tender issued by GUVNL in March 2019, which had ceiling tariff aggressively set at Rs 2.70/kWh.
The power generated will be supplied to GUVNL under a power purchase agreement (PPA) valid for a period of 25 years. The project has to be commissioned within 15 months from the date of execution of the PPA.