Tata Power Solar bags project worth Rs 1,731 cr from NHPC

Integrated solar company Tata Power on Monday informed the exchanges that it has bagged a project worth Rs 1,731 crore from NHPC.

The wholly-owned arm of Tata Power bagged the solar project which will be developed in Rajasthan under the CPSU scheme of IREDA.

“The project will be completed within 18 months’ time period, aims to reduce around 6,36,960 carbon emissions, and is expected to generate approximately 750 million units annually. Cells and modules made in India would be used in the project installation,” the company said in a press release.

“We are honoured to have won this significant project from NHPC. It underlines the industry's confidence in our ability to develop and deliver world-class solar projects on time using state-of-the-art Indian technology," Praveer Sinha, CEO & MD, Tata Power said.

Following this order win, the pending order book of the company has now reached Rs 13,500 crore and the total utility-scale solar project portfolio has touched 9.7GWp.

Tata Power Solar Systems earlier on May 5 had won India's largest solar engineering procurement and construction (EPC) order for 1 GW project worth Rs 5,500 crore from state-owned SJVN Ltd. According to a company statement, this EPC order had been designed keeping in mind the innovative use of 'Make in India' cells and modules.

As of 10:50, the Tata Power stock was up 1.6% while the benchmark indices were trading with gains of around a percent.