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Tata Power Solar bags Rs 1,505 crore project from NTPC under CPSU scheme

ANI  |  Business 

Tata Power Solar Systems Ltd has received a letter of award from NTPC for a 250 megawatt solar project under the central public sector undertakings (CPSU) scheme.

The scheme aims to set up 12,000 MW of solar capacity by government companies by financial year 2022-23. The Cabinet has already sanctioned a viability gap funding support of Rs 8,580 crore towards the scheme capped at Rs 70 lakh per MW.

"This is a prestigious project for us and we are thankful to NTPC for reinforcing their confidence in our capabilities," said Ashish Khanna, President (Renewables) at Tata Power.

"It consolidates our commitment towards 'Make in India' and underscores our competitive and quality offering as a leading engineering, procurement and construction player in the country," he said in a statement.

Under the CPSU scheme, only domestically manufactured cells and modules will be used for the project.

The total value of the order is Rs 1,505 crore and the completion period is 20 months. The order book of Tata Power Solar -- India's largest solar energy company and a wholly-owned subsidiary of Tata Power -- now stands at Rs 7,600 crore.

In November 2019, the company received a letter of award from NTPC to develop a 105 MW floating solar project at Kayamkulam in Kerala. The Rs 343 crore project required to be commissioned within 21 months includes three-year operations and maintenance component.

Tata Power is India's largest integrated power company and, together with its subsidiaries and jointly controlled entities, has an installed capacity of 10,763 MW.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 13 2020. 13:07 IST
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