TP Saurya, which is an arm subsidiary of Tata Power Ltd, has arise as the winner for 330 megawatt (MW) of solar capacities in the auction for 500 MW of solar plants projects which will be built in Madhya Pradesh at the Neemuch solar park. The company has proposed minimum tariff of rupees 2.14 per unit for the solar capacity in the auction conducted by Rewa Ultra Mega Solar Ltd (RUMSL).
According to anonymous sources, Al Jomaih Energy and Water Co based in Saudi Arabia has won the remaining 170 MW capacity against a tariff of rupees 2.15 per unit. At present, Tata Power has a solar portfolio of 1,765 MW in India and 932 MW its wind power capacity.The company aims to increase the share of green energy in its power generation portfolio to 80 per cent by FY30, rising up from the current level of 31 per cent. A minimum of 25 per cent power from RUMSL solar projects will be supplied to the Indian Railways across several states.
Manu Srivastava, who is the principal secretary in government of Madhya Pradesh, told Financial express, “The success of the auction proves that facilitating institutional consumers to procure inexpensive solar power can be beneficial, rather than looking for buyers only among discoms. " Lately, Srivastava was in-charge of RUMSL and was conducting the large solar park auctions in the state.
The project will be set up on around thousand hectares of land with rupees 1750 crores private investment and it js expected to be completed and create power by March-2023.