Tata Power Solar Receives LoA of Rs. 596 cr for Floating PV Project

Tata Power Solar Receives LoA for 125 MW Floating PV Project

By Saur News Bureau/ Updated On Thu, Sep 15th, 2022

Highlights :

A letter of award (LoA) for Rs. 596 crore from NHDC Limited was given to Tata Power Solar Systems, a solar EPC business and wholly owned subsidiary of Tata Power Renewable Energy, for the establishment of a 125 MW floating solar PV project.
The LoA was chosen through competitive tariff-based bidding. The project will supply M.P. Power Management Company Limited with sustainable power within 13 months of the Letter of the Award date.

Tata Power Solar Receives LoA for 125 MW Floating PV Project

A Letter of Award (LoA) for Rs. 596 crore from NHDC Limited was given to Tata Power Solar Systems for the establishment of a 125 MW floating solar project.

The LoA was chosen through competitive tariff-based bidding. The project will supply M.P. Power Management Company Limited with sustainable power within 13 months of the Letter of the Award date.

The project at the Omkareshwar reservoir in the Khandwa district of Madhya Pradesh was advertised for bids earlier this year by NHDC, a joint venture between NHPC and the Madhya Pradesh government. This is one of India’s biggest floating solar power projects, according to reports.

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“We at TPS are honored to work with NHDC on this important project. To promote green energy across industries, this partnership will highlight the diversity of our working styles and project implementation. Floating solar projects are revolutionizing the renewable energy sector. This undertaking is a true testament to our capacity to pioneer top-tier solar projects. Floating solar projects are revolutionizing the renewable energy sector. According to Ashish Khanna, CEO of Tata Power Renewable, “This project is a real testament to our capacity to pioneer world-class solar projects in a brief amount of time.”

With this victory, the company’s portfolio of utility-scale solar projects reached 9.8 GW in total. The overall order book for Tata Power Solar as of today was 14,908 crore. 93.94% of Tata Power Renewable is owned by Tata Power.

Recently, Tata Power Solar commissioned a 160MW AC solar project at Jetstar, Rajasthan. Approximately 6,75,000 numbers of monocrystalline PV modules were used in this installation and it will produce 387MUs of energy per year, an official statement said.