Tata Power’s renewable energy portfolio grows to 3883 MW in Q4 FY20
A 7% increase from the corresponding quarter last year
Tata Power has announced that its renewable business capacity crossed 2,637 MW (932 MW Wind & 1705 MW Solar). With this, the company’s Renewable Energy portfolio (includes clean & green projects) stands at 3,883 MW, a 7% increase from the corresponding quarter last year.
The Company witnessed a 34% increase last year with higher operational revenues and EPC volume. With this, the operating renewable portfolio of Tata Power has grown to 2,197 MW, comprising 551 MW wind and 1,646 MW solar respectively this year. At present, Tata Power contributes about 36% of its capacity (in MW terms) through clean and green generation source, which is about 1% of India’s total installed capacity of 372 GW. It also plans to significantly transform the existing model of supply and usage of power with the advent of new technologies and climate change challenges.
“We, at Tata Power, have constantly strived to proliferate the company's renewable energy portfolio with each passing year. We successfully added a capacity of 312 MW to our TPREL portfolio last year and are in the process of adding another 700 MW. We aim to add a large amount of renewable energy capacity through wind, rooftop solar, solar panels and microgrids to our portfolio every year and scale up our existing portfolio in the next five years,” said Praveer Sinha, Managing Director & CEO, Tata Power
Ashish Khanna, President – Renewables, Tata Power said, “As the nation is gripped by the ongoing COVID-19 pandemic, we have continued to operate nearly 71 of our renewable project sites at optimum capacity owing to the rising power demands of the states. The announcement by the Government of India that must-run status of renewable energy projects and payments to renewable energy generators to be made on regular basis by the discoms is indeed a welcome move amid this crisis.”
In FY20, Tata Power Solar received a letter of award from NTPC for a 250 megawatt solar project under the central public sector undertakings (CPSU) scheme. The scheme aims to set up 12,000 MW of solar capacity by government companies by financial year 2022-23. TPREL also commissioned 150 MW solar capacity in Rajasthan’s Chayan village. It also initiated the development of 500 MW of renewable capacity across the country including 100 MW under PPA signed with UPPCL and NPCL in Uttar Pradesh, 100 MW under a PPA signed with GUVNL at Raghanesda solar park and 250 MW at Dholera solar park.