Tata Power Solar Systems has won a 300 MW solar project worth Rs 1,731 crore from state-owned NHPC.
The project site, located in Rajasthan, will be developed under the CPSU (Central Public Sector Undertaking) scheme of IREDA (Indian Renewable Energy Development Agency).The project, which is expected to be completed within 18 months, aims to reduce around 6,36,960 carbon emissions, and is expected to generate approximately 750 million units annually.
Cells and modules made in India would be used in the project installation.
Tata Power Solar said the company’s pending order book reaches Rs 13,500 crore and the total utility-scale solar project portfolio touches 9.7GWp.
Tata Power recently said its consolidated revenue rose 28 percent to Rs 42,576 crore in financial year 2022.
Tata Power Renewable’s PAT grew 60 percent in Q4 FY22 vs Q4 FY21 due to the addition of 707 MW capacity in FY22.
In April 2022, the BlackRock Real Assets-led consortium, including Mubadala Investment entered into an agreement to invest $525 million in Tata Power’s Renewable Energy Platform, Tata Power Renewable Energy for 9.76-11.43 percent stake.
Tata Power Solar Systems will set up 4 GW solar cell and module manufacturing capacity with an investment of Rs 3,400 crore.