BackTata Power bags 300MW solar project worth ₹1,731 crore
Tata Power is India's largest integrated power company and has an installed capacity of 10,763 megawatts together with its subsidiaries and jointly controlled entities
PremiumTata Power Company in a regulatory filing said on Monday that its wholly-owned subsidiary Tata Power Solar Systems won an order to build a 300-megawatt solar project for state-owned utility major NHPC at an all-inclusive price of ₹1,731 crore.
The project site, located in Rajasthan, will be developed 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.
Dr. Praveer Sinha, CEO & MD, Tata Power, said "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."
Tata Power Solar has always been a pioneer in implementing and commissioning such large-scale solar and renewable projects. With this order, the company's pending order book reaches Rs13,500 crore and the total utility-scale solar project portfolio touches 9.7GWp.
Tata Power's total Renewable capacity is 4,920 MW including 1,400 MW of Renewable projects under various stages of implementation.
Tata Power Company reported a consolidated net profit of ₹632 crore for the fourth quarter of 2021-22 as compared to ₹481 crore recorded in the corresponding period of the previous year, registering a year-on-year growth of 31 per cent. For the full year 2021-22, the company's net profit surged by 50 per cent to ₹2,156 crore as compared to ₹1,439 crore recorded in 2020-21.
Tata Power is India's largest integrated power company and has an installed capacity of 10,763 megawatts together with its subsidiaries and jointly controlled entities. Tata Power Solar operates a world-class manufacturing unit in Bangalore, with a production capacity of 635MW of modules and 500 MW of cells. It has a portfolio of more than 9.7GWp of ground-mount utility-scale, over 1000MW of rooftop and distributed generation projects across the country and installed over 67000 Solar Water Pumps in India to date. It also offers a diverse line of solar solutions for both urban and rural markets – these include rooftop solutions, solar pumps, and power packs among others.
As of 11:05, the Tata Power stock was up 1.44% and was tradin at ₹226 per share
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