Tata Power arm wins order worth Rs 596 cr to set up 125 MWp floating solar project

14 Sep 2022 , 12:19 PM

NHDC, had invited bids early this year for this project at the Omkareshwar reservoir in the Khandwa district of Madhya Pradesh. It will be one of the Indias largest floating solar power projects, the company said. Tata Power holds 93.94% stake in Tata Power Renewable Energy. NHDC is a joint venture of NHPC and Government of Madhya Pradesh. The company said that the LoA was awarded through tariff-based competitive bidding. The project will be commissioned within 13 months from the date of letter of award and will provide sustainable power to M.P. Power Management Company, it added Speaking on the win, Ashish Khanna, CEO, Tata Power Renewable Energy said, This is a significant project for Tata Power Solar and we are honoured to collaborate with NHDC. This partnership will highlight our working and project execution diversity to promote green energy across sectors. Floating solar projects are the game changer for the renewable industry. This project is a true reflection of our ability to pioneer world-class solar projects within a short period of time. Tata Power Solar Systems has always been at the forefront, when it comes to the implementation and commissioning of such large-scale solar and renewable projects. With this win, the companys total utility-scale solar project portfolio touches 9.8 gigawatts peak (GWp). As on date, TPSSLs total order book stood at Rs 14,908 crore, the company said in the press release. Tata Power is one of Indias largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,749 MW. The company has a presence across the entire power value chain – generation via renewables as well as conventional power including hydro and thermal energy; transmission & distribution, coal & freight, logistics, and trading. The companys net profit jumped 90% to Rs 884 crore on 43% increase in net sales to Rs 14,495.48 crore in Q1 FY23 over Q1 FY22. Shares of Tata Power Company were up 0.37% to Rs 241.90 on the BSE. Powered by Capital Market – Live News