New Delhi: Tata Power Renewable Energy Ltd (TPREL) has signed a power purchase agreement (PPA) with NTPC Ltd to develop a 200 MW clean power project.
"With this project, its total renewable utility capacity has reached 10.9 GW," TPREL, a Tata Power subsidiary, said in a statement on Monday.
The Firm and Dispatchable Renewable Energy (FDRE) project, spread across multiple locations in India, is set to be completed within 24 months and is expected to generate approximately 1,300 million units (MUs) of electricity annually, TPREL said.
The project will mitigate over 1 million tonnes of carbon dioxide emissions per year. The project was won by TPREL based on competitive bidding and would consist of solar, wind and BESS (battery energy storage system) technologies.
A key feature of this initiative is the commitment to a 4-hour peak power supply, ensuring at least 90 per cent availability during peak demand hours to support the growing energy needs of distribution companies.
This collaboration reinforces TPREL's position as a leader in India's renewable energy sector with hybrid and complex renewable projects, consisting of solar, wind and battery storage.
With this project, TPREL's total renewable utility capacity has reached 10.9 GW. Currently, 5.5 GW of this capacity is operational, comprising 4.5 GW of solar and 1 GW of wind energy. Additionally, 5.4 GW is under various stages of implementation, evenly split between 2.7 GW of solar and 2.7 GW of wind projects.
These ongoing projects are expected to be completed in phases over the next 6 to 24 months in a staggered manner.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)