Tata Power Share Surge after Arm Wins Solar Project
Tata Power, one of India’s leading power generation companies, has received a massive solar project worth Rs 1,755 crore through its subsidiary, Tata Power Solar Systems. This project will involve the setting up of a 300 MW domestic content requirement (DCR) based engineering-procurement-construction project for NLC India.
Located at Barsingar in Bikaner District, Rajasthan, the project is expected to produce over 75 crore units of electricity annually and reduce 6 lakh tons of carbon emissions per year. The news has led to a surge in Tata Power’s share prices, which rose by 2.91% to Rs 190.90 on the National Stock Exchange by 10.42 am.
Under the project, Tata Power will take complete responsibility for the project execution, right from the design phase to commissioning and the evacuation system up to the delivery point. Moreover, the power company has already commissioned a 220 KV pooling substation to ease project execution and to meet the peak electricity demand in the upcoming summer months.
Furthermore, Tata Power Solar Systems will also handle the operation and maintenance of the project for three years after the commercial operation declaration, with commissioning expected to be completed within 18 months.
This latest project win brings the subsidiary’s total portfolio to 11.5 GW, and its total order book stands at about Rs 17,000 crore as of March 29. The company is a leading player in developing and setting up customized renewable projects, and this project win is expected to further strengthen its position in the sector.
About Tata Power:
One of India’s leading integrated power businesses, Tata Power offers next-generation client solutions like solar rooftop, EV charging stations, and home automation as well as presence along the whole value chain of conventional and renewable energy.
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