Tata Power brings online 25-MW solar park

Jun 3, 2014 - Indian power producer Tata Power (BOM:500400) said Monday that its unit Tata Power Renewable Energy (TPREL) has switched on a 25-MW solar power facility in the western state of Maharashtra.

The project calls for an investment of about INR 2.5 billion (USD 42m/31m), financed through debt and equity. The entire debt requirement was provided by India’s Infrastructure Development Finance Company Ltd (IDFC).

Construction of the photovoltaic (PV) plant, located at Palaswadi village, was completed in March, while connection to the grid was delayed due to non-availability of existing lines and substations. The park is seen to generate about 46 million kWh of electricity each year, which will help Tata Power meet its Solar Renewable Purchase Obligations (RPO), the company said.

Tata Power also owns a 3-MWp and a 25-MWp solar park in Maharashtra and Gujarat states, respectively. Including those plants it has more than 56 MW of solar capacity in its portfolio, which also includes 461 MW of wind assets.

(INR 100 = USD 1.690/EUR 1.242)

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