Tata Power Renewable Energy (TPREL), a wholly owned subsidiary of Tata Power, has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to develop a 100 MW solar project at the Anantapuram Solar Park in Andhra Pradesh under Phase II, Batch 3 of the National Solar Mission. The project is expected to be commissioned before October 16, 2017.
Tata Power won the bid to develop the project in a reverse auction by quoting viable gap funding (VGF) of Rs.73,99,990 (~$110,582) at a fixed tariff of Rs.4.43 (~$0.0662)/kWh.
“With the signing of this PPA with SECI, TPREL has further consolidated its position as India’s largest renewable energy company,” commented Mr. Rahul Shah, CEO & Executive Director, Tata Power Renewable Energy. “We are delighted at this project win as it further fortifies our leadership in renewable energy generation in India. The solar project at Anantapuram solar park will add 100 MW of clean energy thereby significantly increasing our green footprint. In the next five years, the company plans to significantly add to its solar generation capacity,” added Shah.
Mercom had recently reported that Tata Power currently has the largest solar installed capacity in India among utility-scale projects accounting for approximately nine percent of market share, and is also the top rooftop installer in India with more than 100 MW. According to Mercom’s India Solar Project Tracker, TPREL has commissioned projects totaling 760 MW and 569 MW are under various stages of development.