Tata Power Solar Systems, a solar EPC company and a wholly owned subsidiary of Tata Power Renewable Energy, has received a letter of award (LoA) of Rs 596 crore from NHDC Limited for setting up a 125MW floating solar project.
The LoA was awarded through tariff-based competitive bidding. Tata Power holds 93.94% stake in TPREL. The project will be commissioned within 13 months from the date of letter of award and will provide sustainable power to M.P. Power Management Company Limited.
Earlier this year, NHDC had invited bids for this project at the Omkareshwar reservoir in the Khandwa district of Madhya Pradesh. This project is set to be among the largest floating solar power projects in the country. NHDC is a joint venture of NHPC Limited and Government of Madhya Pradesh.
The company stated, “Tata Power Solar Systems has always been at the forefront, when it comes to the implementation and commissioning of such large-scale solar and renewable projects. With this win, the company’s total utility-scale solar project portfolio touches 9.8 gigawatts peak (GWp). As on date, TPSSL’s total order book stood at Rs 14,908 crore.”
Ashish Khanna, CEO, Tata Power Renewable Energy Limited said, “This is a significant project for Tata Power Solar and we are honoured to collaborate with NHDC. This partnership will highlight our working and project execution diversity to promote green energy across sectors. Floating solar projects are the game changer for the renewable industry.”