Solar power station. Featured Image: worradirek/Shutterstock.com
The renewable energy unit of Tata Power Co Ltd (BOM:500400) has been awarded a 50-MW solar project at the Dholera Solar Park in the Indian state of Gujarat, it announced on Monday.
Tata Power Renewable Energy Limited (TPREL) has received a letter of award for the particular project from Gujarat Urja Vikas Nigam Limited (GUVNL) on November 7. This is in addition to the 250-MW solar project the company is already executing at the Dholera Solar Park and thus it becomes the largest developer within the complex, Tata Power noted.
GUVNL will buy the electricity generated by the 50-MW facility under a 25-year power purchase agreement (PPA). Once that contract is signed, TPREL will have 15 months to build the solar plant.
“With this award the cumulative capacity under development in Gujarat would be 400 MW,” said Praveer Sinha, CEO and managing director of Tata Power.