Tata Power Solar Systems New Contract from NHPC – Tata Power win 188 crore contract
Tata Power Solar Systems
It is an Indian company that specializes in solar energy services. The company manufactures solar modules, solar cells, and other solar products, and provides EPC services for solar power projects.
In August 2017 the company completed the world largest Solar rooftop installation on the cricket stadium in Mumbai. The Market Share of the company is 5.6% in India and it is one of the largest solar rooftop EPC players in India.
NHPC awards Rs 188 crore contract to Tata Power Solar Systems
Tata Power Solar Systems wins new contract from NHPC. The NHPC Limited is an Indian government hydropower board under the ownership of Ministry of Power.
NHPC has awarded a new EPC (Engineering Procurement and Construction) Contract to Tata Power to set up a 40 megawatt (MW) solar power project. The project is located at Ganjam District, Odisha and the total amount of the contract is Rs.188.19/- crore.
From this contract the Tata Power will grow their Power Systems business buy 10% by next 5-7 years. It is confirmed by the Tata Power managing director Praveer Sinha. He said they will invest most in the renewable energy that help India to move one step forward to “Aatm-Nirbhar Bharat”. Because it reduces the foreign import and increase the domestic production.
He said that the Tata Power already book 9000 Crore solar panel across the country that is manufactured and install by the Tata Power Solar Systems.
The EPC contract includes the solar power plant installation on government land that is acquired by the NHPC. The power generated shall be procured by GRIDCO for the entire project life of 25 years. Along with the plant installation they also work with associated 220 KV Transmission Line for Connectivity at 220 KV OPTCL Transmission System through Lilo Provision and comprehensive O&M for 10 Years.
The project has been sanctioned by MNRE (Ministry of New and Renewable Energy) under Solar Park Scheme and is scheduled to be commissioned within a period of 12 months.
It also helps the Tata Power Share Holder who already bought the Tata Power Shares or who is thinking to buy Share from Stock Market. The current price of the share is running above 100 rupees per share.