A subsidiary of India’s Tata Power Co Ltd (BOM:500400) has received a letter of award from Solar Energy Corporation of India (SECI) to build a 600-MW wind-and-solar plant in the state of Karnataka.
The Mumbai-based electric utility said that its fully-owned unit TP Saurya Limited (TPSL) has been successful in a tariff-based competitive bidding process that was followed by an e-Reverse auction. The subsidiary will have to commission the hybrid power generation facility within 24 months from the PPA execution date, the announcement says.
“Renewable hybrid projects are a game changer in India as they can generate round-the-clock power with high reliability levels to help meet country's decarbonisation goals," said Praveer Sinha, CEO and managing director of Tata Power.
Including this latest award, Tata Power’s total renewable energy capacity amounts to 5,524 MW, of which 3,634 MW has already been installed.