TP Saurya Limited (TPSL), a subsidiary of Tata Power has been awarded a letter of award from the Solar Energy Corporation of India for the establishment of a 600 MW hybrid including wind, and solar power plant in Karnataka. The project will be completed within 24 months of the execution date of the power purchase agreement. Tariff-based competitive bidding was used to award the letter, which was later followed by an e-Reverse auction. Tata Power’s total renewable capacity now stands at 5,524 MW, with 3,634 MW installed and 1,890 MW under different phases of implementation.
Recently in July 2022, Tata Power signed a MoU with the Tamil Nadu Government under which Tata Power would invest around Rs 30 billion for developing a 4 GW solar cell and solar module manufacturing unit in the state. The greenfield facility will come up in Tamil Nadu’s Tirunelveli district. This investment would help generate over 2,000 job opportunities.