Tata Power Renewable Energy to set up 255 MW hybrid power project in Karnataka

Tata Power Renewable Energy Ltd., the green energy arm of Tata Power Ltd, has received an order to set up a 255 MW hybrid power project in Karnataka.

The letter of award (LoA) has been received from Tata Power Delhi Distribution Ltd. (Tata Power-DDL), a joint venture of Tata Power and the Government of NCT of Delhi. The letter was awarded through an e-reverse auction.

The project will be commissioned within 24 months from the power purchase agreement execution date, according to the company.

The power generated from the project will be supplied to Tata Power Delhi Distribution, which supplies electricity to over 7 million people in North Delhi.

The letter indicates the current capacity bifurcation as 85 MW solar and 170 MW wind power with the green-shoe option of additional capacity of 85 MW solar and 170 MW wind.

"This association will also encourage other Discoms in the country to enhance the share of sustainable energy in their overall energy mix and contribute towards the country's net zero emission target.” Ashish Khanna, CEO, Tata Power Renewable Energy, said.

With this order, the total renewables capacity of TPREL reaches 6,048 MW with an installed capacity of 3,884 MW, comprising 2,956 MW solar and 928 MW wind along with 2,164 MW under various stages of implementation.

Shares of Tata Power are trading 0.5 percent lower at Rs 207.20.