1 min read.Updated: 13 Aug 2021, 02:46 PM ISTLivemint
India’s push for green energy has borne results, with the country crossing the 100 GW milestone of installed renewable energy capacity
NEW DELHI: Tata Power Renewable Energy Ltd (TPREL) has commissioned a 100 megawatt (MW) solar power project at Raghanesda solar park in Gujarat, the Tata Power subsidiary said in a statement on Friday.
“This project was awarded by Gujarat Urja Vikas Nigam Ltd (GUVNL). With this addition of 100 MW, the total installed capacity of TPREL will be 2,797 MW with 1,865 MW of Solar and 932 MW of wind. It has another 1,234 MW of renewable projects under implementation," the statement said.
Tata Power has an installed operational portfolio of 12.811 gigawatt (GW), of which 4 GW is from clean energy projects, and supplies power through its electricity distribution companies (discoms) in Mumbai, North Delhi, Odisha and Ajmer.
Malaysia’s Petronas was earlier looking to buy about a 10% stake in Tata Power Renewable Energy Ltd, in addition to investing in Tata Power’s renewable energy infrastructure investment trust but the deal fell through.
This capacity addition 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 100GW of solar power by 2022.
This has led to continued investors interest in the space. Attracted by India’s green economy, Canadian pension fund Ontario Municipal Employees’ Retirement System (OMERS) announced its plan to purchase 19.4% stake in NYSE-listed Azure Power Global Ltd. for $219 million from IFC and IFC GIF Investment Company. Recently Thailand’s state owned energy major PTT Group also announced its acquisition of 41.6% stake in Avaada Energy Pvt Ltd for around $454 million.
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