Tata Power Solar Systems (TPSSL) on Wednesday said it has received a ₹596-crore letter of award (LoA) for setting up a 125-megawatt peak (MWp) floating solar project from state-run NHDC.
TPSSL, a subsidiary of Tata Power Renewable Energy (TPREL), is a solar engineering procurement and construction (EPC) company. Tata Power holds 93.94 per cent stake in TPREL. NHDC is a joint venture of NHPC and Government of Madhya Pradesh.
NHDC had invited bids early this year for the project at Omkareshwar reservoir in Khandwa district of Madhya Pradesh. It will be one of India’s largest floating solar power projects, according to a company statement.
The LoA was awarded through tariff-based competitive bidding. The project will be commissioned within 13 months from the LoA and provide sustainable power to MP Power Management Company, it added.
TPREL CEO Ashish Khanna 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 a game changer for the renewable industry. The project demonstrates the company’s ability to pioneer world-class solar projects within a short time, he added.
TPSSL’s utility-scale solar project portfolio now stands at 9.8 gigawatt peak (GWp) and order book at ₹14,908 crore.