TANGEDCO signs MoU with IREDA to augment renewable energy capacity

An official release said that in order to bring down the power purchase cost and to attain self-sufficiency in the power generation, TANGEDCO plans to add 25,000 MW generation capacity including 20,000 MW solar, 3,000 MW pumped hydro stations and 2,000 MW gas-based power stations in the next 10 years at an estimated cost of Rs 1.35 lakh crore.

The release said that with the existing thermal power stations have to be retired one by one due to crossing the useful plant life of 25 years, solar projects will produce energy at cheaper rates due to a substantial reduction in the capital cost and it would be prudent to invest more in the solar projects with adequate battery storage. 

As per the MoU, the IREDA would provide advisory services to the TANGEDCO in the areas such as understanding of RE sector dynamics, analysis of the evolving policy and regulatory landscape for RE projects, expansion plans and technology adoption. “IREDA will also provide assistance in assessing key success factors and strategies adopted by established players in the field. Further IREDA will provide advisory services in the matter relating to assistance in market assessment, assessment support in project development, assistance in bid process management and implementation support,” it said, adding that the MoU is valid for five years and extendable further upon mutual consent. 

Electricity Minster V Senthilbalaji, Energy department secretary Dharmendra Pratap Yadav, TANGEDCO CMD Rajesh Lakhoni, IREDA CMD Pradip Kumar Das were present.