The Maharashtra State Electricity Distribution Company Limited (MSEDCL), an arm of the Maharashtra government, has awarded a Letter of Award (LoA) to Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, for the development of a 400 MW wind-solar hybrid project in the state. The announcement was made on Wednesday.
The company stated in a regulatory filing that the LoA comprises a greenshoe option for an additional 200 MW of contractual capacity and the 200 MW of original contracted capacity. TPREL’s largest renewable energy project in Maharashtra would be this one.
The project is a component of MSEDCL’s larger plan to supply future electricity demands at competitive tariffs and fulfill the state’s Renewable Purchase Obligation (RPO). Through the use of an online reverse auction platform, a competitive bidding process resulted in the issuance of the LoA.
It also stated that the project, which is anticipated to be finished in 24 months following the signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL, will be significant in reducing carbon emissions, with an approximate yearly reduction of 895 million kilograms of CO2.
MSEDCL will receive the electricity produced by the hybrid project, which mixes solar and wind energy, helping the company sustainably meet its energy needs and expanding Maharashtra’s portfolio of renewable energy sources.
With this accomplishment, TPREL currently has 10.5 GW of overall renewable energy capacity, with 5.7 GW of projects in various phases of development. Its 4.8 GW operational capacity is made up of 1 GW of wind and 3.8 GW of solar energy installations.
