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Tata Power bags solar project worth Rs 945 crore from SECI

Tata Power Company said that its wholly owned subsidiary Tata Power Solar Systems has received Letter of Award (LoA) from Solar Energy Corporation of India (SECI).

December 01, 2021 3:33 IST | capital market

The contract involves building 100 MW EPC solar project along with 120 MWh utility scale battery energy storage system (BESS). The total contract value of the project is approximately Rs 945 crore. The project will be executed within 18 months.

The utility scale EPC order book of Tata Power Solar now stands at approximately 4.4 GW (DC) capacity with an approximate value of Rs 9,000 crore (without GST), thereby strengthening its position as Indias leading Solar EPC player.

SECI project sites are located in Chhattisgarh. The order scope includes engineering, design, supply, construction, erection, testing, O&M and commissioning of the projects.

Dr. Praveer Sinha, CEO & MD, Tata Power, said, ?We are glad to receive this prestigious order from SECI to build Solar EPC projects along with the Indias largest utility scale BESS project. This is the second grid-scale solar plant with BESS and is recognition of Tata Power Solars pioneering work in project execution capabilities in the solar energy domain.?

The Tata Power Company (TPC) is one of the largest private-sector power utilities in India, with an installed generation capacity of 12,808 megawatts as of September 2021. The companys business operations include power generation from thermal, hydro, solar and wind sources, transmission and distribution. The company also owns coal mines in Indonesia and a license for coal mining in Russia.

The companys consolidated net profit surged 36% to Rs 506 crore in Q2 FY22 from Rs 370.93 crore posted in Q2 FY21. Consolidated revenue rose 13% year on year to Rs 9,502 crore.

The scrip surged 4.61% to end at Rs 226.80 on the BSE today.

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