Tata Power Solar gets LoA from NTPC
Tata Power Solar Systems Limited, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power has received a letter of award (LoA) to build 300 MW CPSU-II for NTPC at an all inclusive price of Rs 1,730.16 crore.
The commercial operation date (COD) for this grid-connected solar photovoltaic project is set for September 2021 (18 months). With this, the order book of Tata Power Solar stands at approximately Rs 8,541 crore, including external and internal orders.
As per the company’s management, Tata Power Solar has been consistently getting large and challenging grid-based solar EPC contracts from industry-leading public sector undertaking like NTPC. Being a DCR project, it will be building the project with its own cells and modules.
In September 2019, post reverse auction, Tata Power Solar had received a LoA to develop 105 MWp floating solar project worth Rs 343 crore, including three years of O&M. This project is one of the most prominent floating solar projects in India. This venture is executed on the reservoir of NTPC Kayamkulam district in Alappuzha (Kerala) and is to be commissioned no later than 21 months.
On Tuesday, in the morning session, the stock of Tata Power surged by 5.3 per cent to Rs 31.80 from its previous close of Rs 30.20 on BSE.