Tata Power invites bids to procure 150 MW of renewable energy

Indian electric utility company, Tata Power Limited has announced that its distribution licensee division has invited bids for generating 150 MW of renewable power from solar, wind, small hydro, or a combination, in an attempt to meet its RPO (renewable purchase obligation) compliance.
According to sources, the company is seeking bids for the procurement of around 100 MW renewable power from renewable projects in Maharashtra and around 50 MW from projects that are located outside Maharashtra between September 08, 2020, and March 31, 2021.
Bidders planning to take part in this process are required to offer the quantity indicated in the RfP (request for proposal) document for the respective period. The required renewable power can be supplied from one or more sources (solar or wind) based on the condition that the capacity should not be less than 5 MW, i.e. the minimum bidding amount.
Reports state that bidders will be required to bare transmission charges, open access charges, POC (point of connection) injection, reliability support charges, withdrawal charges and losses, scheduling charges, or any other charges up to the delivery point. However, Tata Power would take over all open access charges beyond the delivery point.
Lately, Tata Power has made numerous strides in the renewable energy space. The company recently announced that its division, Tata Power Renewable Energy Ltd., attained an LoA (letter of award) to develop a hybrid renewable power project of 225 MW capacity. The project is intended to supply power to the DISCOM under a power purchase agreement (PPA) for 25 years.
Prior to this, Tata Power had disclosed its annual results for FY 2019-20, Under its income statement, the company’s revenue in FY 2020 was reported to have declined by 3% and stood at $3.8 billion compared to around $3.9 billion in the earlier financial year.
Source Credit: https://mercomindia.com/tata-power-procure-renewables-projects/