1 min read.Updated: 20 Sep 2021, 02:57 PM ISTLivemint
In a push to India’s green energy trajectory, Tata Power subsidiary TP Saurya Ltd (TPSL) has got the letter of intent (LoI) from Maharashtra State Power Generation Co. Ltd (MAHAGENCO) to set up a 250 megawatt (MW) grid connected solar plant Maharashtra
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NEW DELHI: In a push to India’s green energy trajectory, Tata Power subsidiary TP Saurya Ltd (TPSL) has got the letter of intent (LoI) from Maharashtra State Power Generation Co. Ltd (MAHAGENCO) to set up a 250 megawatt (MW) grid connected solar plant Maharashtra.
This comes amid a growing focus on environmental, social and governance (ESG) investing. Tata Power has an installed operational portfolio of 13.061 gigawatt (GW), and supplies power through its electricity distribution companies (discoms) in Mumbai, North Delhi, Odisha and Ajmer.
“The project has been awarded to TPSL through tariff-based competitive bidding followed by e-Reverse auction," Tata Power said in a statement on Monday.
Including the new project, the total renewable capacity of Tata Power will reach 4,611 MW with an installed capacity of 2,947 MW and 1,664 MW under implementation.
“The company has received this “Letter of Intent" (LoI) in a bid announced by MAHAGENCO for setting up 250MW solar plant at the Dondaicha Solar Park in Dhule district of Maharashtra. Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) has conveyed consent to purchase the power generated from this solar plant," the statement said and added, “The solar plant project will be commissioned within 15 months from the date of PPA (Power Purchase Agreement) execution."
This comes at a time when India’s push for green energy has borne results, with the country crossing the 100 GW milestone of installed renewable energy capacity. India is running the world’s largest clean energy programme to achieve 175 GW of renewable capacity, including 100 GW of solar power by 2022.