Tata Power Company Ltd on Tuesday (November 28) said its subsidiary Tata Power Renewable Energy Ltd (TPREL) has clinched a letter of award (LoA) for a 200-MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN Ltd (SJVN).

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The project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours, thereby contributing to grid stability.

SJVN, a prominent Indian public sector undertaking (PSU) specialising in hydroelectric and renewable power generation, has been designated as the renewable energy implementing agency (REIA) by the Ministry of New and Renewable Energy (MNRE), playing a pivotal role in achieving India's ambitious target of 500 GW by 2030.

The FDRE project not only ensures round-the-clock power supply but also aids distribution companies (discoms) in meeting their renewable purchase obligation (RPO) and energy storage obligation (ESO).

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This marks a significant milestone for TPREL, as it secures its first FDRE power tender, reinforcing its commitment to delivering reliable and sustainable energy solutions.

The project, set to be commissioned within 24 months from the power purchase agreement (PPA) execution date, was awarded through competitive bidding and a reverse e-auction process.

Notably, the installation is expected to offset approximately nine lakh metric tonnes of CO2 emissions annually, aligning with India's broader environmental sustainability goals.

With this win, TPREL's total renewables capacity now stands at an impressive 8,314 MW, encompassing projects in various stages of development, including an operating capacity of 4,214 MW, comprising 3,200 MW in solar projects and 1,014 MW in wind projects.

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Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.

(Edited by : Shoma Bhattacharjee)