By Business India Editorial

Tata Power Solar Systems has bagged a 300 MW solar project worth Rs1,731 crore from state-owned NHPC.

“Tata Power Solar Systems, one of India's largest integrated solar companies and a wholly-owned subsidiary of Tata Power, bagged an order of 300 MW solar project worth Rs1,731 crore, inclusive of tax from NHPC,” a company statement said. 

The project site, located in Rajasthan, will be developed under the CPSU (Central Public Sector Undertaking) scheme of IREDA (Indian Renewable Energy Development Agency), the statement said. The project, which is expected to be completed within 18 months, aims to reduce around 6,36,960 carbon emissions, and is expected to generate approximately 750 million units annually.

Cells and modules made in India would be used in the project installation. "We are honoured to have won this significant project from NHPC. It underlines the industry's confidence in our ability to develop and deliver world-class solar projects on time using state-of-the-art Indian technology,” said Praveer Sinha, CEO & MD, Tata Power,

Tata Power Solar has been a leader in implementing and commissioning such large-scale solar and renewable projects. With this win, the company’s pending order book reaches Rs13,500 crore and the total utility-scale solar project portfolio touches 9.7GWp, it said.

Tata Power’s total Renewable capacity is 4,920 MW including 1,400 MW of Renewable projects under various stages of implementation.

Tata Power reported a consolidated net profit of Rs632 crore for the fourth quarter of 2021-22 as compared to Rs481 crore recorded in the corresponding period of the previous year, registering a year-on-year growth of 31 per cent. For the full year 2021-22, the company's net profit surged by 50 per cent to Rs2,156 crore as compared to Rs1,439 crore recorded in 2020-21.

Tata Power Solar operates a world-class manufacturing unit in Bengaluru, with a production capacity of 635 MW of modules and 500 MW of cells. It has a portfolio of more than 9.7GWp of ground-mount utility-scale, over 1,000 MW of rooftop and distributed generation projects across the country and installed over 67,000 Solar Water Pumps in India to date. It also offers a diverse line of solar solutions for both urban and rural markets – these include rooftop solutions, solar pumps, and power packs among others.