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Tata Power renewables unit wins two 50 MW projects in Karnataka

Tata Power Co. Ltd said its unit Tata Power Renewable Energy Ltd (TPREL) has won two solar projects of 50 megawatt (MW) capacity each in Karnataka under the Jawaharlal Nehru National Solar Mission (JNNSM) at a tariff of Rs.4.79 per kilowatt-hour (kWh).

The company has received a letter of intent to develop the two solar grid connected photovoltaic projects in Pavagada Solar Park in Tumkur district. The company will sell power from the projects to state-run NTPC Ltd’s unit NTPC Vidyut Vyapar Nigam Ltd under a 25-year power purchase agreement.

The company is aiming to get more than its earlier stated 20-25% of total capacity from renewable energy. Indian and foreign firms have been quoting tariffs below Rs.5 per kWh in government auctions to win solar projects in India, in part helped by lower cost of solar panels and government-provided solar parks.

 

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