Tata Power RE inks pact with MSEDCL for 2 solar projects in Maharashtra

2 Aug 2023 , 03:03 PM

Tata Power Limited announced that its subsidiary Tata Power Renewable Energy Limited (TPREL) has entered into two power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) for the commissioning of two solar power projects, one of 200 MW and other of 150 MW.

These 200 MW and 150 MW projects in Maharashtra will play a critical role in meeting the state’s renewable energy targets, according to the company in a press release. It added that these initiatives also mark a significant milestone in the country’s efforts to accelerate renewable energy adoption and combat climate change.

The 200 MW and 150 MW solar projects are estimated to be operational by mid-2025, generating significant amounts of clean energy and reducing annual carbon dioxide (CO2) emissions by 4,28,800 tons and 3,11,200 tons, respectively.

TPREL will offer clean and sustainable electricity to MSEDCL as part of the deal, greatly contributing to the state’s renewable energy ambitions.

TPREL has a 930 MW agreement with MSEDCL, of which 334 MW is now supplied and the remaining 596 MW will be commissioned during the next 12-18 months.

TPREL’s overall renewables capacity sits at 7,783 MW, with 4,118MW installed.

At around 2.59 PM, Tata Power Company was trading 3.83% lower at Rs 235.05, against the previous close of Rs 244.40 on NSE.

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