Tata Power on Wednesday announced it had been awarded the state-run Karnataka Renewable Energy Development Ltd (KREDL) project to develop five solar projects totalling 250 MW in the state's Tumkur district.
In a statement here, the company said the energy from the five projects of 50 MW each, to be set up at the Pavagada Solar Park in Tumkur, will be supplied to the Karnataka state distribution companies (discoms) under a power purchase agreement (PPA) valid for 25 years.
"The company has won this capacity in a bid at a tariff of Rs 2.85/kWH (kilowatt hour) announced by KREDL during April 2018. The projects will be commissioned within 12 months from the date of signing of the PPA," it said.
Tata Power President, Renewables Ashish Khanna said in a statement: "Pavagada Solar Park has provided us a unique opportunity to enhance our generation capacities in the same location and post development we will have the optimisation advantage of operating more than 400 MW AC power from Pavagada."
The 250 MW solar project is so far the largest bid won by the company, while it currently has an operational capacity of 675 MW, the statement said.