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Tata Power Renewable Energy

Tata Power Renewable Energy Signs 100 MW PPA In Indian Solar Power Park

Tata Power Renewable Energy Signs 100 MW PPA In Indian Solar Power Park

written by saurabh

The Ananthapuram solar power park in India’s Andhra Pradesh state continues to progress at a healthy rate with power purchase agreement being signed for yet another project.

Tata Power Renewable Energy has reportedly signed a power purchase agreement with the Solar Energy Corporation of India (SECI) Limited for a 100 MW solar PV project at Ananthapuram, Andhra Pradesh.

The project was allocated to as part of a competitive auction held by SECI in May 2016. A total capacity of 400 MW was allocated among four companies. The companies are free to use either imported modules or those manufactured/assembled in India.

All companies will sell electricity at Rs 4.43/kWh (US¢6.7/kWh) for a period of 25 years. The developers shall receive capital cost support as per their approved bids. Tata Power Renewable Energy secured the project at a bid of Rs 7,399,990 per MW (US$111,161 per MW). Other developers that won projects are Fotowatio Renewable Ventures (100 MW), Acme Solar (150 MW) and Azure Power (50 MW).

The Ananthapuram solar power park will have an installed capacity of 1 GW once fully commissioned. 250 MW capacity is already operational at the solar park – including 100 MW owned and operated by Tata Power Renewable Energy. With an additional 400 MW capacity auctioned in May this year, a balance 350 MW auction is pending.



October 26, 2016 0 comment
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India’s Tata Power Renewable Energy Wins 100 MW Solar Power Capacity

India’s Tata Power Renewable Energy Wins 100 MW Solar Power Capacity

written by saurabh

Subsidiary of one of India’s leading private sector power companies – Tata Power – recently won rights to develop large-scale solar power projects in the southern state of Karnataka.

Tata Power Company recently reported that its subsidiary Tata Power Renewable Energy received letter of intent for development of two solar power projects with 50 MW capacity each. The projects shall be located in the southern state of Karnataka.

The projects will be part of a larger solar power park in the state. Power generated from this solar power park shall be bundled with power generated from thermal power projects in order to make it cheaper for the utilities to purchase the bundled electricity.

Tata Power Renewable Energy shall sell the electricity to NVVN Limited, a subsidiary of NTPC Limited (India’s largest power generation company) at a tariff of Rs 4.79/kWh (US¢7.2/kWh). NVVN shall then bundle this power with that generated from thermal power plants of NTPC Limited before selling it to interested utilities across the country.

The projects have been allocated to Tata Power Renewable Energy under phase II, batch II of the National Solar Mission. Under the first tranche of this scheme the government aims to set up 3 GW capacity.

Last month, Tata Power had announced plans to increase its share of renewable energy output from 20% to 35-40% by 2025. The company currently has an installed capacity of 9,156 MW, including 593 MW from wind energy and 60 MW from solar power projects. Tata Power hopes to increase its installed capacity to 20 GW by 2025. A 40% renewable energy share would mean 8 GW capacity.



May 27, 2016 0 comment
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Fotowatio Renewable Wins First Solar Power Project In India

Fotowatio Renewable Wins First Solar Power Project In India

written by saurabh

The Indian solar power market continues to attracts new foreign developers despite the recent concerns over the fate of solar power project pipeline of SunEdison.

Fotowatio Renewable Ventures has secured its first win in India. The company secured rights to develop 100 MW solar power project in Andhra Pradesh. The project shall be part of a larger solar power park in the state.

The project was allocated through a competitive auction where the tariff was fixed but bidders had to indicate the lowest capital cost support they would need from the government.

Fotowatio will set up the 100 MW with a capital support of Rs 44.5 lakhs (US$67,000) per MW at a fixed tariff of Rs 4.43/kWh. The capital cost support desired by the company is less than 9% of the total capital cost determined by the Indian regulatory body for solar PV projects for the current financial year.

Other major winners of the tender were Acme Solar (150 MW), Tata Power Renewable Energy (100 MW) and Azure Power (50 MW). These developers will receive capital cost support of between Rs 55 lakhs (US$82,800) to Rs 74.5 lakhs (US$112,200) per MW against the estimated capital cost of around US$790,000 per MW.

Fotowatio Renewable Ventures was in the news recently for being part of a consortium that place the world’s lowest-ever solar power bid. The consortium had placed bid of US2.99/kWh for the third phase 800 MW capacity of the Dubai solar power park. This tariff is less than half the tariff Fotowatio will receive in the Andhra Pradesh project.

Fotowatio was acquired by Saudi Arabia-based Abdul Latif Jameel Group in April 2015.



May 7, 2016 0 comment
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