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Tata Power renewables signs PPA with GE for 5MW solar projects

Posted On: 2018-06-13 21:52:57

Tata Power Renewable Energy Limited (TPREL), India's largest renewable energy company and Tata Power's wholly-owned subsidiary, has entered into a Power Purchase Agreement (PPA) with GE to provide solar rooftop solutions for six manufacturing and services sites in India. Tata Power will install solar rooftop projects at manufacturing sites located at Durgapur in West Bengal, Pallavaram and Hosur in Tamil Nadu, multi-modal manufacturing site at Pune and upcoming factory at Marhowra in Bihar and maintenance facility at Roza in Uttar Pradesh. The project would be executed on build-own-operate basis.

The installation of the solar rooftop projects will help to generate over 1 million kWh of electricity per year and will lead to an average tariff reduction of around 30 percent. GE will also be able to curb the emission of over 13,000 kg of carbon dioxide per day.

Ashish Khanna, President - Renewables, Tata Power said in a statement, "The project underlines our leadership in project commissioning space and reflects GE's commitment towards enhancing solar energy for its manufacturing units. It also demonstrates GE's confidence in Tata Power capabilities in providing reliable solar power through competency in rooftop solutions. We are hopeful that the renewable segment will also be encouraged by these cost optimised energy solutions."

Amit Kumar, Vice President, supply chain, GE India and South-East Asia, said, "India is an important manufacturing base for GE and sustainability is at the core of our business. Generation of solar power at our manufacturing plants will help us in reducing our carbon footprint. The country has a lot of potential for solar rooftop projects which need to be harnessed to meet India's energy needs for manufacturing."

Tata Power Solar has commissioned more than 1.45GW of ground-mount utility scale and over 200MW of rooftop and distributed generation projects across the country till date. Tata Power Solar has been ranked #1 EPC rooftop solar player consistently for four years by Bridge to India, a leading cleantech consulting and knowledge services provider. The total installed capacity in the rooftop segment is over 200MW as of March 31, 2018, including commercial, residential and industrial sector.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.77 as compared to the previous close of Rs. 77.85. The total number of shares traded during the day was 274437 in over 1584 trades.

The stock hit an intraday high of Rs. 78.4 and intraday low of 76.8. The net turnover during the day was Rs. 21287283.


Source: Equity Bulls

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