Tata Power Renewable Energy Ltd (TPREL) is eyeing upcoming solar power auctions for 1,200MW in Andhra Pradesh and Karnataka for Rs6,100 crore.
In Andhra Pradesh, TPREL is planning to bid for Solar Energy Corp. of India’s (SECI) 500MW projects at Kadapa Solar Park. In Karnataka, it plans to bid for 700MW solar photovoltaic projects.
In Karnataka, TPREL plans to bid for SECI’s proposed 200MW solar project and Karnataka Renewable Energy Development Ltd’s (KREDL) 500MW in Pavagada Solar Park at a cost of around Rs1,056 crore and Rs2,450 crore, respectively.
The projects will be developed on a ‘build own operate’ basis and SECI will sign a 25-year power purchase agreement (PPA) with the bidders. The PPA is expected to be signed within one month from the date of issue of Letter of Intent (LoI).
SECI will sell the power to the state distribution companies (discoms) in Karnataka and Andhra Pradesh.