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 May 31, 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.
Speaking on the commissioning, 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, Maharashtra State Electricity Distribution Company, 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 2.50 billion is being funded through debt & equity components.
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.
Shares of the company gained Rs 1.9, or 1.83%, to settle at Rs 105.75. The total volume of shares traded was 946,282 at the BSE (Monday).