Tata Power obtains a huge solar project from NHPC worth $223Mn

Tata Power, an electric utility firm based in India, has recently obtained a solar project worth Rs 1,731 crore ($223 million) from NHPC (National Hydroelectric Power Corporation).

According to sources close to the move, the wholly-owned division of Tata Power acquired the solar project, which is expected to be developed under the IREDA’s CPSU scheme.

According to Tata Power, the project will be completed within the period of 18 months, and it aims to lessen around 6,36,960 carbon emissions and is estimated to generate around 750 million units yearly. The modules and cells made in India would be used for installing the project.

Praveer Sinha, CEO, and MD of Tata Power, said that the firm is honored to have got this substantial project from NHPC. It emphasizes the industry’s assurance in the firm’s ability to develop and deliver world-class solar projects on time with the help of state-of-the-art technology, said

After winning this order, the order book of the firm has now touched Rs 13,500 crore (USD 1.7 billion), and the overall utility-scale solar project portfolio has touched 9.7GWp.

Earlier in May, Tata Power Solar Systems had won India’s biggest solar EPC (engineering procurement and construction) order for around 1 GW project worth 5,500 crores (USD 708 million) from state-owned SJVN Ltd.

As per the firm’s statement, this order of EPC had been designed with the advanced use of ‘Make in India’ cells and modules.

The Tata Power stock was up by 1.6%, while the standard indices were trading with profits of around a percent.

About Tata Power

Tata Power Company Ltd is an electric utility company based in Maharashtra, India, and is a part of the Tata Group. The firm's main business is to produce, transmit, and distribute electricity.

Source Credit - https://economictimes.indiatimes.com/industry/renewables/tata-power-solar-bags-project-worth-rs-1731-cr-from-nhpc/articleshow/91588398.cms