It has developed a 25 MW solar photovoltaic power project, through its subsidiary, Tata Power Renewable Energy Ltd (TPREL), the company said in a statement. (Agencies)
The project with an overall cost of Rs 250 crore is being funded through debt and equity. TPREL had tied up the entire debt requirement through IDFC Ltd in February this year. It received the first loan disbursement on February 28, 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 statement said.
The solar plant, which is located in the Satara district of Maharashtra, uses Crystalline Silicon Photo-Voltaic Technology. The plant is expected to generate approximately 46 million units per year.
Electricity from this plant is evacuated through the state transmission network.
Tata Power Managing Director Anil Sardana said: "We are delighted to announce the commissioning of yet another large solar project of 25 MW."
The company has operating solar capacities of 3 MWp (megawatt peak) at Mulshi in Maharashtra and 25 MWp at Mitahpur in Gujarat, alongwith its first solar power plant of 110 kW (kilowatt), set up way back in 1996 at Walwhan in Lonavala.
With these projects, Tata Power now has a portfolio of over 56 MW of solar and 461 MW of wind.
It has developed a 25 MW solar photovoltaic power project, through its subsidiary, Tata Power Renewable Energy Ltd (TPREL), the company said in a statement.