Tata Power Renewable Energy Ltd Bags Letter of Award for 200 MW Renewable Energy Project with SJVN Ltd

Tata Power Renewable Energy Limited (TPREL), a prominent player in India's renewable energy sector and a subsidiary of Tata Power, has clinched a significant victory by receiving a Letter of Award (LOA) for the development of a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project. This collaborative venture involves SJVN Limited (SJVN), a major Indian public sector undertaking (PSU) with expertise in hydroelectric and renewable power generation and transmission.

SJVN, designated as the Renewable Energy Implementing Agency (REIA) by MNRE to achieve India's ambitious 500 GW target by 2030, is partnering with TPREL in this strategic endeavor. The FDRE project has been meticulously designed with a hybrid configuration incorporating solar, wind, and battery storage to meet the 200 MW FDRE requirement. This innovative approach ensures dispatchable energy delivery during peak hours, contributing to grid stability.

FDRE not only offers round-the-clock power supply but also aids distribution companies (discoms) in fulfilling Renewable Purchase Obligation (RPO) and Energy Storage Obligation (ESO).

This marks TPREL's inaugural win in the FDRE power tender category, underscoring its dedication to providing reliable and sustainable energy solutions. The tender, which includes a Greenshoe option for additional capacity beyond the initial 200 MW, signifies a step forward in the company's commitment to renewable energy expansion.

The collaboration with SJVN is a significant milestone in TPREL's mission to diversify its portfolio and play a vital role in advancing the nation's sustainable energy objectives. The project is scheduled for commissioning within 24 months from the Power Purchase Agreement (PPA) execution date.

Acquiring this project brings TPREL's total renewables capacity to 8,314 MW, comprising 4,100 MW in various stages of development and an operational capacity of 4,214 MW. This includes 3,200 MW in solar projects and 1,014 MW in wind projects. The new installation is expected to offset approximately 9 lakh metric tonnes of CO2 emissions annually, contributing significantly to India's environmental sustainability efforts.

EQUITYBULLS