Solar power plant. Source: Tata Power.
December 28 (Renewables Now) - Tata Power Renewable Energy Ltd (TPREL), a unit of Indian electric utility Tata Power Co Ltd (BOM:500400), on Wednesday said it has received the letter of award (LoA) for a 255-MW hybrid renewables project in Karnataka that it secured in a recent auction.
The auction was held by Tata Power Delhi Distribution Ltd (Tata Power-DDL), a joint venture of Tata Power and the government of National Capital Territory of Delhi, which supplies power to more than 7 million people in North Delhi.
The project will consist of 85 MW of solar and 170 MW of wind capacity, with the award including a green-shoe option of additional 85 MW solar plus 170 MW wind. The facility should be online 24 months after the signing of the power purchase agreement (PPA).
TPREL said it now has 6,048 MW of renewables capacity, of which 3,884 MW installed and 2,164 MW in different stages of execution.
TPREL won the auction offering a price of INR 3 per kWh (USD 0.036/EUR 0.034), Mercom reported at the start of December, citing sources.
