Tata Power Renewable bags 200 MW FDRE project from SJVN Ltd
Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has bagged a 200 MW firm and dispatchable renewable energy (FDRE) project from public sector hydropower generator SJVN Ltd.
The project is expected to be commissioned within 24 months from the execution date of the power purchase agreement. The project was awarded through competitive bidding, followed by a reverse e-auction. The installation is expected to offset ~900,000 metric tonnes of CO2 emissions a year.
In a regulatory filing, Tata Power said that to meet the 200 MW FDRE requirement, its renewable energy subsidiary would deploy a hybrid combination of solar, wind, and battery storage of appropriate capacities at the plant. "This ensures that the energy generated by the plant is dispatched as and when needed by discoms during peak hours, providing stability to the grid," the company said.
The company did not disclose financial details of the order, however.
FDRE provides round-the-clock power supply and supports electricity distribution companies in meeting renewable purchase obligation (RPO) and energy storage obligation (ESO). This is the first FDRE power tender won by TPREL. The tender also includes a greenshoe option allowing for SVJN to purchase additional capacity beyond the initial 200 MW.
With this win, TPREL's total renewables capacity has reached 8,314 MW, comprising 4,214 MW of operating capacity and 4,100 MW of projects in different phases of development. The operating capacity is further split into 3,200 MW of solar projects and 1,014 MW of wind projects.
SJVN, controlled by the Government of India, is involved in hydroelectric and renewable power generation and transmission. The company has also been designated as the Renewable Energy Implementing Agency by the Ministry of New & Renewable Energy for achieving the nation's target of achieving 500 GW by 2030.