Tata Power subsidiary bags order worth Rs 386 cr in Ladakh

Tata Power Solar Systems has received a Notice of Award (NoA) to build 50 megawatts-peak (MWp) Solar PV plant with 50 megawatt-hour (MWh) Battery Energy Storage System (BESS) project at Phyang village in Leh, Ladakh.

The order value of the project is Rs 386 crore. The commercial operation date for this project is set for March 2023. This would be India's first co-located Large Scale BESS solution as well as first Large Scale Solar PV project in the Union Territory of Ladakh to be set up at a high altitude of 3,600 meters above sea level.

With the addition of this project, the order pipeline of Tata Power Solar now stands at approximately 4 gigawatts-peak (GWp) with approx. order value of Rs 12,414 crore. The scope of work includes design, engineering, supply & procurement, construction of Solar Photovoltaic grid connected power plant project and BESS on a turnkey basis along with ten years of operations and maintenance services.

Speaking on the achievement, Dr Praveer Sinha, the chief executive officer (CEO) and managing director (MD) of Tata Power, said, "Tata Power has always been at the forefront of generating renewable energy coupled with innovative solutions. This project is a testament of contribution towards developing an advanced ecosystem for faster adoption of clean energy across the nation."

On a consolidated basis, Tata Power Co.'s net profit surged 73.7% to Rs 465.69 crore on a 54.5% jump in net sales to Rs 9,968.03 crore in Q1 June 2021 over Q1 June 2020.

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

Shares of Tata Power gained 0.11% to Rs 133.80 on BSE. The stock traded in the range of Rs 133.10 to Rs 134.60 so far.

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