Tata Power said it received a contract from Gujarat Urja Vikas Nigam Limited to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat .
The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date.
The Company won the deal in a bid announced in March 2019.
The project, to be implemented via subsidiary Tata Power Renewable Energy Limited, has has to be commissioned within 15 months from the date of execution of the PPA.
The company did not mention what the rate of compensation will be.
With this win, TPREL’s capacity under implementation would become 500 MW, in addition to the operating capacity of 2,268 MW.
The Plant is expected to generate 250 MUs of energy per year and will annually offset approximately 250 Million Kg of CO2.
Tata Power said it has a target of generating 35-40 per cent of its total generation capacity from clean energy sources.