New Delhi: Tata Power, India’s largest private power company, which has developed a 25 MW (28.8 MWp) solar photovoltaic (PV) power project, through its subsidiary Tata Power Renewable Energy (TPREL), today announced the formal successful commissioning of its project on 31st May 2014. The project was ready during last week of March but could not be connected to state grid due to non-availability of shutdown in existing lines and substations.
The solar plant, spread over 130 Acres, is located at Palaswadi village in Maan taluka in Satara district in Maharashtra. The solar plant uses Crystalline Silicon Photo-Voltaic Technology. The solar plant is expected to generate approximately 46 MU per year which will enable Tata Power meet its Solar Renewable Purchase Obligations (RPO). This plant is one of the largest of its kind by a private power utility in the State and the power is evacuated through the State transmission network.
The Maan taluka is a water-scarce drought-prone region in Maharashtra. The Company has already initiated the construction of check dams which will harness the rain water and make it available for irrigation and other uses that will benefit the local community.
Speaking on the commissioning, Mr. Anil Sardana, Managing Director, Tata Power, said, “We are delighted to announce the commissioning of yet another large solar project of 25 MW. We would like to thank the Government of Maharashtra, Maharashtra State Electricity Transmission Company Limited, Maharashtra State Electricity Distribution Company Limited, the local community and authorities and all our stakeholders for the support extended in setting up this solar power project at Palaswadi.”
The project with an overall cost of approximately Rs. 250 crores is being funded through debt & equity components. TPREL had successfully tied up the entire debt requirement through IDFC Limited in February this year. The signing of financing agreements was completed on 24th February 2014. TPREL complied with the pre-disbursement conditions under the financing agreements and received the first loan disbursement on 28th February, 2014.
The Company’s strategy emphasizes the development of clean energy generation from renewable sources to balance the carbon emissions from fossil fuel based generation capacity while contributing towards energy security of the country
The Company has also operating solar capacities of 3 MWp at Mulshi in Maharashtra and 25 MWp at Mitahpur in Gujarat, along with its first solar power plant of 110 kW, set up way back in 1996 at Walwhan in Lonavla. With these projects, Tata Power now has a strong portfolio of 56+ MW of Solar and 461 MW of Wind making it the largest Renewable Utility player in India.