Tata Power Solar secures solar EPC order of 1GW worth Rs5,500 crore from SJVN; Stock rises 1%

5 May 2022 , 03:25 PM

Tata Power Solar Systems Limited, one of India’s largest integrated solar companies and a wholly-owned subsidiary of Tata Power, bagged India’s largest single solar EPC order of 1GW for approx. Rs5,500 crore from SJVN Limited.

At around 2:55 PM, Tata Power was trading at Rs247.60 apiece up by Rs2.65 or 1.08% on the BSE.

This EPC order has been designed keeping in mind the innovative use of ‘Make in India’ cells and modules. The project will be developed under the CPSU scheme of MNRE and will be completed within a period of 24months. Covering around 5000+ acres of land in Rajasthan, this project aims at reducing around 22,87,128kg of carbon emission and is expected to generate around 2500 million units annually.

Commenting on the win, Dr. Praveer Sinha, CEO & MD, Tata Power, said "We are proud to have won this mega solar project from SJVN. Implementation of such large project reflects our commitment to the promotion of clean and green energy in the country and strengthens our position as the leading solar EPC player."

Tata Power Solar has always been a pioneer in implementation and commissioning of such large scale renewable projects. With this win of 1GW, the company's order booking crosses the Rs12,000 crore with a cumulative portfolio of more than 9.3GW for utility scale renewables projects.