The energy from the solar project will be supplied to MSEDCL under a power purchase agreement (PPA), valid for a period of 25 years from the date of scheduled commercial operation.

India’s largest integrated power company, Tata Power announced that its wholly-owned subsidiary, Tata Power Renewable Energy Ltd (TPREL) has received a letter of award from Gujarat Urja Vikas Nigam Ltd (GUVNL) on June 12 to develop a 120 MW solar project in Gujarat.

Tata Power, India’s largest integrated power company, announced that Tata Power Renewable Energy Ltd (TPREL), the company’s wholly owned subsidiary, had received a Letter of Award from the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) to develop a 100 MW solar project in Maharashtra.

Renewable energy tariffs for both·solar and wind power·have touched grid parity from 2HFY17. The levelised tariffs dropped to Rs 2.44/kWh in solar energy and Rs 2.65/kWh in wind energy after the bidding in 1HFY18.

India´s approach of focussing largely on utility-scale solar parks and aggressive pricing has attracted a lot of scepticism. The renewable energy sector has shown tremendous growth over the last two years.