A wholly owned renewable-energy arm of Tata Power Co. Ltd. has received letter of award from NTPC Ltd. for a 250 MW solar power project worth Rs 1,505 crore.
With this order, the order book of Tata Power Solar Systems stands at approximately Rs 7,600 crore, including external and internal orders.
"Tata Power Solar Systems... a wholly owned subsidiary of Tata Power, has received letter of award from NTPC for a 250 MW solar project under the central public sector undertaking scheme," according to an exchange filing on Monday.
The total value of the order is Rs 1,505 crore and the completion period is 20 months.
"It is Tata Power Solar's biggest single order from a third party. Aligning with the government's 'Make in India' mission and bringing together our core strengths in domestic manufacturing and engineering, procurement and construction services over the last two decades," Praveer Sinha, chief executive officer and managing director at Tata Power, said in the exchange filing.
Also Read: Why Analysts Repose Faith In Tata Power, The Worst Performer Among Peers In 2019
Under the CPSU scheme, only domestically manufactured cells and modules would be used for the project. In November last month, Tata Power Solar had received a letter of agreement from NTPC to develop a 105 MW floating solar power project in Kayamkulam, Kerala.
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