Industry News

TPREL to Set Up 100 MW Solar Power Plant in Andhra Pradesh

India: Tata Power Renewable Energy Limited (TPREL) signed a Power Purchase Agreement with Solar Energy Corporation of India Limited (SECI) to set up 100MW solar powered plant at Anantpuram Solar Park in Andhra Pradesh. The projected is expected to be commission by October 16, 2017. TPREL secured the project through bidding process in open category under the Jawahar Lal Nehru National Solar Mission (JNNSM). TPREL is a wholly owned subsidiary of Tata Power Company Limited and has a current power installed capacity of 294 MW including 240 MW of wind power and 54 MW of Solar Power. The company has presence in Maharashtra, Gujarat, Madhya Pradesh and Rajasthan and it plans install 500 MW renewable power in the coming years.

TechSci Research depicts that the development of plant would contribute to India’s target of setting up 100GW of solar Power capacity by the end of 2020 which is considered as the largest solar capacity addition program in the world. Solar Power in India is witnessing rapid growth promote clean energy sources and reduce dependency on fossil fuels. Solar energy sector is a lucrative sector attracting large scale private sector investment. States such as Rajasthan, Madhya Pradesh, Andhra Pradesh are at the forefront in adding solar power projects. The large-scale deployment of solar power plants across India would boost the demand for solar power equipment Market in India.

According to released report of TechSci Research India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020, wherein solar energy would be generated by employing photovoltaic (PV) and concentrated solar power (CSP) technologies across the country. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.

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