Tata Power arm TP Saurya secures LoA to set up 600MW hybrid project for SECI at Karnataka

15 Jul 2022 , 11:13 AM

TP Saurya Limited (TPSL), a wholly owned subsidiary of Tata Power has received the ‘Letter of Award’ (LoA) from Solar Energy Corporation of India (SECI) for setting up a 600 MW hybrid (wind and solar) power project in Karnataka.

The letter was awarded through tariff-based competitive bidding followed by an e-Reverse auction. The project will be commissioned within 24 months from the PPA execution date, the company said.

Speaking on the project win, Dr. Praveer Sinha, CEO & MD Tata Power, said “We are enthused with the win of 600MW hybrid project for SECI as it reaffirms Tata Power’s commitment to building a sustainable ecosystem for transitioning towards a greener future. Renewable hybrid projects are a game changer in India as they can generate round-the-clock power with high reliability levels to help meet country’s decarbonisation goals.”

With this win, the total renewables capacity of Tata Power reaches 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation

At around 11:15 AM, Tata Power Company was trading at Rs221.95 per share up by Rs0.7 or 0.32% from its previous closing of Rs221.25 per share on the BSE.