Tata Power Solar receives order from NTPC

Tata Power Solar Systems received a Letter of Award (LoA) from National Thermal Power Corporation (NTPC) for a 250 MW solar project under the Central Public Sector Undertaking (CPSU) scheme.

Tata Power Solar Systems Limited is a wholly-owned subsidiary of Tata Power and one of the largest solar energy companies in India. The total value derived from this order for the company is Rs 1,505 crore in a time period of 20 months for the completion of this project. Taking into account this order, the company’s total order book stands at around Rs 7,600 crore, which also includes external and internal orders. Under the CPSU scheme, only domestically manufactured cells and modules would be used for the project.

Praveer Sinha, the CEO and MD of Tata Power, said that the order received is Tata Power Solar’s biggest single order from a third party, which supports the company’s commitment towards ‘Make in India’ campaign.

Previously, the company had received LOA from NTPC for developing 105 MW floating solar project in Kayamkulam (Kerala), a project of Rs 343 core that is required to be commissioned not later than 21 months, including a three-year O&M component. This project is one of the most prominent floating solar projects in the country.

On Monday, the stock of the company closed at Rs 59.40, up by 0.76 per cent or Rs 0.45 per share. The 52-week high is Rs 77.90 and 52-week low is Rs 50.40 on BSE.