Tata Power arm TPREL commissions 2 projects in Andhra Pradesh, Tamil Nadu
Tata Power arm TPREL on Thursday said it has commissioned 36 megawatts (MW) wind capacity of a 100 MW wind farm at Nimbagallu in Andhra Pradesh, and 49 MW solar plant Tamil Nadu's Kayathar town.
"With these, the operating renewable energy capacity of Tata Power Renewable Energy Ltd (TPREL) grows to 1,876 MW, comprising 841 MW wind, 915 MW solar, and 120 MW waste heat recovery capacity as of today," a company statement said.
According to the statement, in FY16, Tata Power Renewable Energy increased its operational capacity by 1,169 MW. Last year, the company completed the acquisition of Welspun Renewable Energy Pvt Ltd (WREPL) to become the largest renewable energy firm in India.
In 2016, TPREL won 320 MW of solar bids, which are under development and will be commissioned in 2017. The company also added 304 MW wind capacity last year, which are under development and construction in Gujarat, Andhra Pradesh, Madhya Pradesh and Karnataka.
TPREL CEO and Executive Director Rahul Shah, said, "With the commissioning of these two projects, TPREL continues to fortify its position of being the largest renewable energy company in the country."
"Our strategic approach is in line with Tata Power's aim to expand its clean energy portfolio up to 35-40% by 2025... We continue to seek to grow our portfolio in India and in select international markets through organic and inorganic opportunities."
TPREL's strategy emphasises the development of clean energy generation from non-fossil fuel and renewable energy sources to balance the carbon emissions from fossil fuel-based generation capacity while contributing towards energy security of the country.
On Thursday, the stock of Tata Power closed up 2.53% or Rs 1.95 at Rs 79.00 on the BSE.