Tata Power Solar to set up 125 MWp floating solar project worth Rs596 crore

14 Sep 2022 , 12:41 PM

Tata Power Solar Systems Limited (TPSSL), a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL), won a ‘Letter of Award’ (LoA) worth Rs596 crore from NHDC Limited for establishing a 125 MWp floating solar project (NHDC).

This is one of India’s largest floating solar power projects.

NHDC requested bids earlier this year for this one-of-a-kind project in the Omkareshwar reservoir in Madhya Pradesh’s Khandwa district.

Tata Power holds a 93.94% stake in TPREL. NHDC is a joint venture between NHPC and the Government of Madhya Pradesh.

The project aims to provide sustainable power to M. P. Power Management Company. The company expects to execute the project within 13 months. Tariff-based competitive bidding was used to award the LoA, said the company.

When it comes to the execution and commissioning of large-scale solar and renewable projects, TPSSL has always been at the forefront. This award brings the company’s overall utility-scale solar project portfolio to 9.8 GWp. TPSSL’s total order book stands at Rs14,908 crore as of now.

At around 12.45 PM, Tata Power Company was trading at Rs241.85 up by 0.35% from its previous closing of Rs241 on the BSE.

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