Tata Power Solar receives LOA for GSECL project worth Rs 4,600 mn
Tata Power Solar, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received a “Letter of Award” (LoA) to build 95 MW of ground mounted Solar PV project for GSECL. The order value of the project is approximately Rs 4,600 million (USD 63 million). The commercial operation date for this project is set for April 2022.
With this addition, the order pipeline of Tata Power Solar Systems (TPSSL) stands at approximately 4.2 GWp with an approximate value of Rs 125,000 million, thereby cementing its position as India’s leading Solar EPC player for seventh year in a row among utility scale.
The company specialises in providing comprehensive EPC solutions and also manufactures high efficiency PV modules.
Tata Power Solar deploys world-class technology to design, install and commission benchmark solar projects worldwide. The company has offered a range of indigenous solar rooftop EPC solutions to its customers which has helped them to transform their businesses into a sustainable and environmentally responsible organisation, enabling them to reduce their energy costs through the installation of cost-effective renewable technologies.
Speaking on the achievement, Praveer Sinha, CEO & MD, Tata Power said, “We are glad to announce this new win of large grid-based solar EPC contract from GSECL, a leading public sector undertaking. We have been progressively growing our portfolio to be the partner of choice for gridscale solar projects. These orders are a motivation for us to continue focusing on delivering the best to our customers and live up to their expectations.”
Shares of the company gained Rs 1.25, or 1.65%, to settle at Rs 77.20. The total volume of shares traded was 3,071,837 at the BSE (Thursday).