India's Tata Power wins 600-MW wind-solar hybrid in Karnataka

• A subsidiary of India's Tata Power Co Ltd (BOM:500400) has gotten a letter of award from Solar Energy Corporation of India (SECI) to build a 600-MW wind-and-solar plant in the state of Karnataka.

The Mumbai-based electric utility claimed that its fully-owned device TP Saurya Limited (TPSL) has actually been successful in a tariff-based competitive bidding procedure that was complied with by an e-Reverse auction. The subsidiary will have to commission the hybrid power generation facility within 24 months from the PPA implementation date, the announcement states.

"Renewable hybrid projects are a video game changer in India as they can generate day-and-night power with high integrity degrees to help fulfill nation's decarbonisation objectives," said Praveer Sinha, chief executive officer and also managing director of Tata Power.

Including this newest award, Tata Power's complete renewable resource capacity totals up to 5,524 MW, of which 3,634 MW has actually currently been installed.