Tata Power Solar—a wholly-owned subsidiary of integrated power producer Tata Power—has received a Letter of Award from state-owned power generator NTPC to build a 300 MW solar project under the second phase of the central public sector undertakings (CPSU) scheme.
The grid-connected solar project is valued at Rs 1730.16 crore and must be commissioned within 18 months, i.e., September 2021.
With this order, the order book of Tata Power Solar stands at approximately Rs 8541 crore including external and internal orders.
“It is projects like these which demonstrate the trust in Tata Power’s project management and execution skills. This order is a motivation for us to continue focusing on delivering the best to our customers, as per their expectations,” said Tata Power CEO and MD Praveer Sinha.
The CPSU scheme provides viability gap funding (VGF) support for state-run power generators to set up 12 GW of grid-connected solar PV power projects using domestically-made equipment. The capacity is to be added in 4 years period from financial year 2019-20 to 2022-23.
Under the scheme, only domestically manufactured cells and modules shall be used for the project.
Tata Power Solar MD and CEO Ashish Khanna said, “Tata Power Solar is proud to consistently win large and challenging grid-based solar EPC contracts from industry-leading public sector undertaking like NTPC. This being a domestic content requirement (DCR) project, we will be building the project with our own cells and modules.”
In September 2019, post reverse auction, Tata Power Solar had received a Letter of Award to develop a 105MWp floating solar project worth around Rs 343 crore including three years of operation and maintenance. The project is being executed on the reservoir of NTPC Kayamkulam in Alappuzha district of Kerala. Commissioning period is 21 months.