Following NTPC’s 320 MW project, Tata Power has won the order to build 95 MW of ground-mounted solar PV project for Gujarat State Electricity Corporation Limited (GSECL). The order value of the project is around INR 460 crore ($63 million).
In an earnings call this week, Tesla CEO Elon Musk boldly claimed that the company will soon be “the market leader in solar.”
The EPC contractor said it is the largest solar plant by capacity commissioned so far in the state of Uttar Pradesh. The plant is estimated to generate 319 million units of electricity per year, which is enough to power 1,45,662 houses annually.
The investment will enable Tata Cleantech to provide loans for green projects, including e-mobility solutions as well as water and energy efficiency.
The 250 MW solar capacity is to be set up on a build-own-operate basis at Dondaicha Solar Park in the district Dhule. The tariff ceiling is fixed at INR 2.83/kWh for the entire power purchase duration of 25 years.
IHS Markit is predicting the world will add 30% more solar capacity this year.
Developers have until February 13 to bid for installation and commissioning of distributed grid-connected solar PV plants to power agriculture pumps.
State-run Uttar Pradesh Power Corporation Limited (UPPCL) will procure the electricity generated from the solar plant under a 25-year power purchase agreement.
The project, currently under construction in Rajasthan, was won by the developer in a Solar Energy Corporation of India (SECI) auction.
The growth of the global renewables sector in 2020, despite the negative impact of the pandemic, underscores how companies are prioritizing sustainability, BloombergNEF says in a new report.
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