Tata Power Renewable Energy Ltd. has received a letter of award to develop a 200-megawatt firm and dispatchable renewable energy project with SJVN Ltd. The plant has been designed with a hybrid combination of solar, wind, and battery storage of appropriate capacities.
It will help distribution companies supply energy generated during peak hours and also provide stability to the grid, it said in an exchange filing on Tuesday.
The FDRE will help distribution companies satisfy their renewable purchase obligations and energy storage obligations. This is the first FDRE power project secured by the Tata Power Co. subsidiary, which also includes a greenshoe option that will provide additional power supply beyond its initial 200 MW, the filing said.
After the win, the total renewable capacity of Tata Power Renewable Energy will reach 8,314 MW.
This includes 4,100 MW of projects in different phases of development and with an operating capacity of 4,214 MW, along with 3,200 MW in solar projects and 1,014 MW in wind projects, it said.
Tata Power, a subsidiary of the Tata Group, is a leading power company with a diversified portfolio of 14,407 MW. It plans to achieve carbon neutrality before 2045. The company has collaborated with multiple public and private companies for generating, transmitting and distributing power across India, and also served around 13 million customers across the nation.