Indian electric utility Tata Power Co Ltd (BOM:500400) said Tuesday it has won two photovoltaic (PV) projects with a combined capacity of 30 MW in a solar tender in the state of Maharashtra.
The company's subsidiary Tata Power Renewable Energy Ltd (TPREL) has been awarded the projects in the Phase-Il Batch-IlI Tranche-l of the Jawaharlal Nehru National Solar Mission (JNNSM) under a State Specific Bundling Scheme. It has entered into a Letter of Intent (LoI) to develop the systems and will now sign a 25-year power purchase agreement (PPA) with NTPC Vidyut Vyapar Nigam Ltd, a subsidiary of NTPC Ltd (BOM:532555).
The projects are in the Domestic Content Requirement (DCR) category, where imported solar equipment cannot be used.
“This is the third LoI received by TPREL in recent months and brings our solar bid wins to 145 MW,” TPREL CEO Rahul Shah said.
The Indian government's solar mission had an initial target of 20 GW of solar capacity by 2022, which has been increased to 100 GW by 2022.