Tata Power gains on bagging EPC order from NTPC

Tata Power rose 2.08% to Rs 110.30 after the company said it received EPC orders worth Rs 686 crore from NTPC to set up Solar PV projects.

Tata Power Solar, India's largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received Letter of Award (LoA) to build 210 MWp of Solar PV projects for NTPC. The total order value of the projects is approximately Rs 686 crore. The commissioning date for NTPC is set for November 2022.

With this addition, the order pipeline of Tata Power Solar stands at approximately 2.8 GW with an approximate value of Rs 13,000 crore, thereby cementing its position as India's leading Solar EPC player. The scope of work includes land, transmission, engineering, procurement, installation and commissioning of the solar projects. The NTPC project site is located in Gujarat.

Tata Power Solar is one of the pioneering solar manufacturers in the world and India's largest specialized EPC player.

On a consolidated basis, Tata Power Company reported 1.4% rise in net profit to Rs 481.21 crore in Q4 FY21 from Rs 474.70 crore in Q4 FY20. Net sales in Q4 FY21 stood at Rs 10,127.39 crore, up by 53% from Rs 6,620.80 crore in the corresponding quarter last year.

Tata Power is India's largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed/ managed capacity of 12,808 MW.

Powered by Capital Market - Live News