TPSSL receives LOA from NHDC Ltd for 125 MWp floating solar project worth Rs 596 crore
Tata Power Solar Systems Limited (TPSSL) has announced that it has received the 'Letter of Award' (LoA) of ₹596 crore. for setting up a 125MWp floating solar project from NHDC Limited (NHDC).
NHDC had invited bids early this year for this project at the Omkareshwar reservoir in the Khandwa district of Madhya Pradesh. It will be one of India's largest floating solar power projects.
Tata Power holds a 93.94 percent stake in TPREL. NHDC is a joint venture of NHPC Limited and the Government of Madhya Pradesh.
The LoA was awarded through tariff-based competitive bidding. The project will be commissioned within 13 months from the date of the letter of award and will provide sustainable power to M. P. Power Management Company Limited.
Speaking on the win, Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited said, "This is a significant project for Tata Power Solar and we are honored to collaborate with NHDC. This partnership will highlight our working and project execution diversity to promote green energy across sectors. Floating solar projects are the game changer for the renewable industry. This project is a true reflection of our ability to pioneer world-class solar projects within a short period."