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Tata Power in a regulatory filing said on Monday that its wholly-owned subsidiary Tata Power Solar Systems has been awarded the order to build a 300 MW solar power project for state-owned major NHPC at an all-inclusive price. ₹1,731 billion.
The project site, located in Rajasthan, will be developed under the CPSU program of IREDA. The project will be completed within 18 months, it is expected to reduce carbon emissions by 6,36,960 tons, and it is expected that will be able to produce about 750 million units per year. Cells and modules manufactured in India will be used in the installation of the project.
Dr. Praveer Sinha, CEO & MD, Tata Power, said, “We are honored to win this important project from NHPC. It demonstrates the industry’s confidence in our ability to develop and deliver world-class solar projects on time in state-of-the-art Indian technology.”
Tata Power Solar has been a pioneer in implementing and commissioning such large-scale solar and renewable projects. With this order, the company’s pending order book has reached Rs13,500 crore and the total solar projects in the project scope has touched 9.7GWp.
Tata Power’s total renewable generation capacity is 4,920 MW including 1,400 MW of renewable projects under various stages of implementation.
Tata Power Company reported a consolidated net profit of ₹632 billion for the fourth quarter of 2021-22 compared to ₹481 billion dollars recorded in the corresponding period of the previous year, registering Year-on-year growth of 31%. For the full year 2021-22, the company’s net profit has increased by 50 percent ₹2,156 billion compared to ₹In 2020-2021, it reached 1,439 million kip.
Tata Power is India’s largest integrated power company and has an installed capacity of 10,763 MW with its subsidiaries and jointly controlled entities. Tata Power Solar operates a world-class manufacturing plant in Bangalore, with a capacity of 635MW of modules and 500 MW of cells. It has a portfolio of more than 9.7GWp of ground power, more than 1000MW of rooftop and distributed generation projects across the country and has installed more than 67000 solar water pumps in India till date. It also offers a variety of solar solutions for the urban and rural markets – these include rooftop solutions, solar pumps, and power packs and more.
As of 11:05, Tata Power shares rose 1.44% and were trading at ₹226 baht per share
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