Tata Power Renewable Energy Ltd (TPREL) has received a letter of award from Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 120-megawatt solar project in Gujarat.
The energy will be supplied to GUVNL under a power purchase agreement valid for a period of 25 years from scheduled commercial operation date. The company won this capacity in a bid announced by GUVNL under phase 8 in February.
The project is required to be commissioned within 18 months from the date of execution of the power purchase agreement.
The plant is expected to generate about 300 million units of energy per year and will annually offset nearly 300 million kg of CO2.
"We hope to continue to build on our capabilities, deliver over expectations and create high benchmarks all around," said Ashish Khanna, President for Renewables Divison at Tata Power.
Tata Power's renewable capacity will increase to 3,457 MW out of which 2,637 MW is operational and 820 MW is under implementation including 120 MW won under this letter of intent.
( With inputs from ANI )