Tata Power Gets LoA From GUVNL for 60 MW Solar Project in Gujarat

• Tata Power has actually gotten an LoA from GUVNL to establish a 60 MW solar project in the state of Gujarat.

Tata Power, among India's biggest incorporated power firms, has actually revealed that the Company has gotten a Letter of Award (LoA) from Gujarat Urja Vikas Nigam Limited (GUVNL) on March 26, 2021, to develop a 60 MW solar project in the state of Gujarat.

The energy will certainly be supplied to GUVNL under a Power Acquisition Agreement (PPA), legitimate for a duration of 25 years from the set up industrial operation date. The Company has actually won this capacity in a bid introduced by GUVNL in January 2021. The project has to be commissioned within 18 months from the day of execution of the PPA.

Dr. Praveer Sinha, Chief Executive Officer & MD, Tata Power, claimed, "we are proud to reveal that we have been granted 60 MW solar project in Gujarat, and also are appreciative to the Government of Gujarat as well as the officials at GUVNL for this chance. With this award, the collective capacity under advancement in Gujarat would be 580 MW. We are delighted to add in the direction of the realisation of our country's commitment in the direction of tidy as well as environment-friendly energy with solar energy generation."

The plant is anticipated to generate regarding 156 MUs of energy annually and will each year balance out about 156 Million Kg of CO2.

Tata Power's eco-friendly capability will increase to 4,007 MW, out of which 2,687 MW is functional as well as 1,320 MW is under implementation consisting of 60 MW won under this PPA.

The auction for the 500 MW solar capability by GUVNL was the initial solar project auction to be performed in India given that the Basic Customs Duty on Solar Cells and also Modules from April 1, 2022, was announced earlier in the month by the Ministry of New and Renewable Energy (MNRE). The public auction brought a winning bid i.e. most affordable tariff of Rs 2.2 per unit (or Rs 2.20/ kWh), as well as the whole ability was awarded to 5 prospective buyers.

NTPC Renewable Energy won 150 MW capability, Actis-backed Sprng Ujjvala Energy won 120 MW, Coal India bagged 100 MW capability, and Tata Power arm TP Saurya was alloted 60 MW. All four bidders were granted project capabilities after sending or matching the L1 tariff of Rs 2.2/ kWh. SJVN Limited was awarded the remainder of the 70 MW capacity after it had actually submitted a proposition for establishing 100 MW well worth of solar projects with a tariff of Rs 2.21/ kWh.

In January, Tata Power Solar had actually announced that it had actually gotten a Letter of Award (LoA) to develop a 95 MW ground-mounted solar PV project for Gujarat State Electricity Corporation Limited (GSECL). The order value of the project is roughly Rs 460 crores. The Business procedure day for this project is established for April 2022.