Tata Power Solar, a wholly-owned subsidiary of Tata Power, on Monday informed the exchanges that it has bagged an order for a 300MW solar project worth ₹1,731 crore inclusive of tax, from NHPC.

The project site, located in Rajasthan, will be developed under IREDA’s CPSU scheme.

To be completed within 18 months, the project aims to reduce around 6,36,960 carbon emissions. Further, it is expected to generate approximately 750 million units annually, the company said.

Cells and modules made in India would be utilised in the project installation.

Praveer Sinha, CEO & MD, Tata Power, said: “We are honoured to have won this significant project from NHPC. It underlines the industry’s confidence in our ability to develop and deliver world-class solar projects on time using state-of-the-art Indian technology.”

With this order, the company’s pending order book has reached ₹13,500 crore and the total utility-scale solar project portfolio has touched 9.7 GWp. 

NHPC Ltd last week informed the exchanges that it had awarded EPC contracts for the development of a grid connected Solar PV Project (1 000 MW Capacity) and a transmission line for power evacuation to ISTS sub-station along with a comprehensive O&M for five years under Tranche-Ill of the CPSU Scheme in Phase-11. 

It has issued letters of award with a cumulative contract price of ₹6,604.42 crore. Apart from Tata Power Solar, Adani Infra (India) Ltd has received letters of award for 600 MW capacity with a total contract price of ₹4,295.64 crore in Gujarat, while the SSEL-ASR JV has received an order for a 100 MW capacity project with a contract price of ₹577.21 crore in Andhra Pradesh.

At 12:10 pm, Tata Power was trading at ₹224.95 on the BSE, up ₹2.10 or 0.94 per cent, while NHPC was trading at ₹31.80, up ₹0.60 or 1.92 per cent.

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