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Tata Power Company Limited
Tata Power commissions 25 MW solar plant in Gujarat



November 9, 2017

Tata Power Renewable Energy Ltd. (TPREL), India's largest renewable energy company and Tata Power's wholly-owned subsidiary, announced that the Company has commissioned its 25 MW solar plant in Charanka, Gujarat Solar Park. The project was won by the Company in November 2016 under the National Solar Mission of Government of India through VGF mode, and its commissioning is earlier than timelines of December 2017 in the PPA. With this development, TPREL's total installed operating capacity now stands at 1484 MW.

The solar plant has been built over 113 acres of land and the Sale of power from solar plant has been tied up under a 25 year Power Purchase Agreement with SECI at a tariff of Rs. 4.43/ unit.

Mr. Rahul Shah, CEO, Tata Power Renewable Energy Limited, said, "We aim to create a focused renewable energy business in TPREL with a sustained growth trajectory. The commissioning of the 25 MW solar plant in Gujarat marks a milestone in our drive, to grow our portfolio of clean and renewable energy generation. We are grateful to the Government of Gujarat and to the nodal agencies for their support while developing the project. As always, we will continue to look for opportunities to acquire operating wind and solar plants, apart from our own organic growth pipeline, to grow our generation portfolio."

Tata Power's vision is to have 35-40% of the Company's total generation capacity from non-fossil fuel sources by 2025. Tata Power's renewable energy capacity this year crossed 2000 MW and green generation portfolio crossed the 3000 MW mark.

About Tata Power Renewable Energy Limited:

TPREL is a wholly owned subsidiary of Tata Power, and is Tata Power's primary investment vehicle for clean and renewable energy based power generation capacity. TPREL's present operating capacity is 1484 MW comprising of 530 MW wind and 954 MW solar capacity located in the states of Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tamilnadu and Rajasthan. The company is also in the process of implementing nearly 348 MW of renewable power projects at various locations on greenfield basis. In order to aggregate its clean and renewable energy portfolio, Tata Power has initiated the process of carving out its 380 MW clean energy assets from its books into TPREL. TPREL is seeking to grow its renewable portfolio in India and in select international markets through organic and inorganic opportunities. With the acquisition of Welspun Renewables Energy Pvt. Ltd., and the project pipeline, TPREL's portfolio grows to about 2.2 GW making it a leading Renewable Energy Company in India. Visit us at www.tatapowerrenewables.com

About Tata Power:

Tata Power is India's largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10549 MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely "Tata Power Delhi Distribution Limited" with Delhi Government for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country's first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. It is also one of the largest renewable energy players in India with a clean energy portfolio of 3180 MW. Its international presence includes strategic investments in Indonesia through a 30% stake in the leading coal company PT Kaltim Prima Coal (KPC), 26% stake in mines at PT Baramulti Suksessarana Tbk ("BSSR"); in Singapore through Trust Energy Resources to securitize coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called Cennergi' to develop projects in sub-Sahara Africa; in Zambia through 50:50 joint venture with ZESCO for 120 MW Hydro which has become operational in 2016; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan. With its track record of technology leadership, project execution excellence, world class safety processes, customer care and driving green initiatives, Tata Power is poised for a multi-fold growth and committed to 'lighting up lives' for generations to come". Visit us at: www.tatapower.com

Contact:

Shalini Singh Head - Corporate Communications
The Tata Power Company Limited
Email: shalinis@tatapower.com

Sneha Dev / Jaison Rebello Rediffusion / Edelman
9958000706/ 8286939726
Email: sneha.dev@edelman.com
Jaison.Rebello@edelman.com

For more information :

Organization:
Tata Power Company Limited
http://www.tatapower.com

             

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