Tata Power Company announced that its wholly owned subsidiary, Tata Power Solar Systems bagged single solar EPC order of 1GW (gigawatt) for approximately Rs 5,500 crore from SJVN, hydroelectric power generation company.
The project will be developed under the Central Public Sector Undertaking (CPSU) scheme of Ministry of New and Renewable Energy (MNRE) and will be completed within a period of 24 months. Covering around more than 5,000 acres of land in Rajasthan, this project aims at reducing around 22, 87 and 128 kg of carbon emission and is expected to generate around 2,500 million units annually.
With this order win of 1GW, the company's order booking crossed Rs 12,000 crore with a cumulative portfolio of more than 9.3 GW for utility scale renewables projects.
Tata Power Solar is one of the pioneering solar manufacturers in the world and India's largest specialized EPC player. The company was originally formed as a joint venture between Tata Power and British Petroleum Solar (BP Solar).
Tata Power is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,515 MW. The company has a presence across the entire power value chain - generation (renewable, hydro, and thermal power), transmission & distribution, coal & freight, logistic, trading, and consumer-facing solar rooftop and Electric Vehicle Charging businesses.
SJVN is a hydroelectric power generation company. The Government of India holds 59.92% stake in the company while State Government of Himachal Pradesh holds 26.85% stake as of 31 March 2022.
Shares of Tata power company rose 0.37% to Rs 245.90 while SJVN was trading 0.36% lower at Rs 27.95 on BSE.
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