Tata Power Renewable Energy Ltd receives 'Letter of Award' to set up 255MW Hybrid Project for Tata Power Delhi Distribution Limited

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power has received the "Letter of Award" (LoA) from Tata Power Delhi Distribution Limited (Tata Power -DDL), a joint venture of Tata Power and the Govt. of NCT of Delhi, for setting up a 255 MW hybrid (wind and solar) power project in Karnataka. The project will be commissioned within 24 months from the PPA execution date. The letter was awarded through an e-reverse auction.

The power generated from the project will be supplied to Tata Power- DDL, which supplies electricity to a populace of over 7 million in North Delhi.  The letter indicates the current capacity bifurcation as 85MW solar and 170MW wind power with the green-shoe option of additional capacity of 85MW solar and 170MW wind.

Speaking on the project win, Mr Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, "We are pleased to facilitate Tata Power-DDL's clean energy requirements with the 255 MW hybrid power project. We envision that this association will also encourage other Discoms in the country to enhance the share of sustainable energy in their overall energy mix and contribute towards the country's net zero emission target."

With this win, the total renewables capacity of TPREL reaches 6,048 MW with an installed capacity of 3,884 MW (Solar - 2,956 MW & Wind - 928 MW) and 2,164 MW under various stages of implementation.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 207.70 as compared to the previous close of Rs. 205.85. The total number of shares traded during the day was 917803 in over 14884 trades.

The stock hit an intraday high of Rs. 209.95 and intraday low of 207.05. The net turnover during the day was Rs. 191297824.00.

Source : Equity Bulls

Keywords

TataPowerCompany INE245A01021 LoA HybridPower TataPowerRenewableEnergy TataPowerDelhiDistribution