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Tata Power Renewable Energy Ltd secures LoA to set up 200MW Solar PV Project for MSEDCL in Solapur, Maharashtra
Posted On : 2023-03-21 22:03:06( TIMEZONE : IST )
Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and one of the significant renewable energy players in the country, has received the 'Letter of Award' (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL), a wholly owned corporate entity under the Maharashtra Government, to set up a 200 MW solar PV project in Solapur, Maharashtra.
The project will be commissioned within 18 months from the PPA execution date. The project was awarded through competitive bidding, followed by a reverse e-auction. The installation will reduce around 432.94 million kg of CO2 emissions annually and will be one of the most substantial solar PV projects.
Speaking on the win, Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, "We are proud that TPREL is playing a crucial role in fulfilling Maharashtra's renewable energy targets. We have a current countrywide portfolio of more than 6.5 GW and securing yet another 'Letter of Award' for setting up a 200 MW solar PV project underlines the trust and confidence MSEDCL has in our execution and engineering capabilities. We are confident that this project will further strengthen our position as a leader in providing clean and reliable power in the state for years to come."
With this win, the total renewables capacity of TPREL reaches 6,503MW with an installed capacity of 3,909 MW (Solar - 2,981 MW & Wind - 928 MW) and 2,594MW under various stages of implementation.
Shares of Tata Power Company Limited was last trading in BSE at Rs. 202.25 as compared to the previous close of Rs. 202.65. The total number of shares traded during the day was 508997 in over 10181 trades.
The stock hit an intraday high of Rs. 203.65 and intraday low of 201.55. The net turnover during the day was Rs. 103105390.00.
