Tata Power Solar, a wholly-owned subsidiary of Tata Power, announced on Monday that it has received an order from NHPC for a 300MW solar project worth Rs. 1,731 crore inclusive of taxes. The project site in Rajasthan will be developed through IREDA's CPSU scheme.
The project, which is expected to be completed in 18 months, aims to reduce approximately 6,36,960 carbon emissions. According to the company, it is expected to generate approximately 750 million units per year.
The project installation would make use of Indian-made cells and modules.
"We are honoured to have won this significant project from NHPC," said Praveer Sinha, CEO & MD of Tata Power. “It demonstrates the industry's faith in our ability to develop and deliver world-class solar projects on time using cutting-edge Indian technology."
With this order, the company's pending order book has reached 13,500 crore, and its total utility-scale solar project portfolio has reached 9.7 GWp.
Last week, NHPC Ltd informed the exchanges that it had awarded EPC contracts for the development of a grid-connected Solar PV Project (1 000 MW Capacity) and a transmission line for power evacuation to ISTS sub-station, as well as a comprehensive O&M for five years under Tranche-Ill of the CPSU Scheme in Phase-11.
It has issued letters of award for a total contract value of Rs 6,604.42 crore. Apart from Tata Power Solar, Adani Infra (India) Ltd has received letters of award for a 600 MW capacity project in Gujarat with a total contract price of Rs 4,295.64 crore.
SSEL-ASR JV has received an order for a 100 MW capacity project in Andhra Pradesh with a contract price of Rs 577.21 crore. At 12:10 p.m. on the BSE, Tata Power was trading at Rs 224.95, up to Rs 2.10 or 0.94 percent, while NHPC was trading at Rs 31.80, up 0.60 or 1.92 percent.
