Tata Power Renewable Energy Ltd secures Letter of Award for development of 200 MW Firm and Dispatchable Renewable Energy Project with SJVN Ltd

Tata Power Renewable Energy Limited (TPREL), a subsidiary of the Company, one of the largest renewable energy players in India, has received a Letter of Award (LOA) for developing a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN). SJVN is an Indian public sector undertaking (PSU) involved in hydroelectric and renewable power generation and transmission and has been designated as the Renewable Energy Implementing Agency (REIA) by MNRE for achieving the nation's target of achieving 500 GW by 2030.

To meet the 200 MW FDRE requirement, the plant has been meticulously sized with a hybrid combination of solar, wind, and battery storage of appropriate capacities. This ensures that the energy generated by the plant is dispatched as and when needed by discoms during peak hours, providing stability to the grid.

FDRE provides round-the-clock power supply and supports the discoms in meeting Renewable Purchase Obligation (RPO) and Energy Storage Obligation (ESO).

This is the first FDRE power tender won by TPREL, showcasing its commitment to ushering in reliable and sustainable energy solutions. The tender includes a Greenshoe option, allowing for additional capacity beyond the initial 200 MW.

This strategic collaboration with SJVN marks a significant milestone in TPREL's journey to expand its portfolio and contribute to the nation's sustainable energy goals.

The project is expected to be commissioned within 24 months from the PPA execution date. The project was awarded through competitive bidding, followed by a reverse eauction. The installation will offset ~9 lakh metric tonnes of CO2 emissions annually.

With this win, the total renewables capacity of TPREL reaches 8,314 MW, which comprises 4,100 MW of projects in different phases of development and with an operating capacity of 4,214 MW, including 3,200 MW in solar projects and 1,014 MW in wind projects.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 270.75 as compared to the previous close of Rs. 258.15. The total number of shares traded during the day was 3614445 in over 35571 trades.

The stock hit an intraday high of Rs. 271.25 and intraday low of 258.45. The net turnover during the day was Rs. 961795920.00.

Source : Equity Bulls

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TataPowerCompany INE245A01021 TataPowerRenewableEnergy LOA SJVN