Tata Power Renewable Energy Secures 200 MW FDRE Project
Tata Power Renewable Energy Ltd (TPREL) has secured a 200 MW reliable and dispatchable renewable energy (FDRE) project from SJVN Ltd. This project guarantees continuous power supply and aids discoms in fulfilling renewable purchase obligation (RPO) and energy storage obligation (ESO), stated Tata Power in a regulatory filing. The company announced that its subsidiary, Tata Power Renewable Energy Limited (TPREL), has been granted a Letter of Award (LOA) to construct the 200 MW FDRE project in collaboration with SJVN Ltd (SJVN).
However, the financial specifics of the order were not disclosed by the company. SJVN, a public sector undertaking (PSU), is engaged in hydroelectric and renewable power generation and transmission. It holds the designation of Renewable Energy Implementing Agency (REIA) by the Ministry of New & Renewable Energy (MNRE), aiming to accomplish the nation's target of achieving 500 GW by 2030. Notably, this marks TPREL's first success in securing an FDRE power tender. Additionally, the tender includes a greenshoe option, allowing for potential extra capacity beyond the initial 200 MW.
This project incorporates a hybrid mix of solar, wind, and battery storage capacities. The anticipated timeframe for project commissioning is within 24 months from the execution date of the power purchase agreement (PPA). The project was secured through a competitive bidding process, followed by a reverse e-auction. Once operational, the installation is expected to offset 9 lakh metric tonnes of CO2 emissions annually. With this recent achievement, TPREL's total renewable capacity now stands at 8,314 MW. This includes 4,100 MW across projects in various development stages and an operational capacity of 4,214 MW, comprising 3,200 MW in solar projects and 1,014 MW in wind projects.