Tata Power Received LOA For A 945 Crore Solar Energy Project

December 2, 2021

Solar Energy Corporation of India (SECI) has awarded an LOA (Letter Of Award) to Tata Power to develop a 100 MW EPC solar plant with a 120 MWh utility-scale Battery Energy Storage System. According to a statement released by Tata Sons on Wednesday, the project’s entire contract value is around 945 crore, and it will be finished in 18 months.

Tata Power Solar’s utility-scale EPC order book currently stands at roughly 4.4 GW (DC) capacity, with an estimated value of 9,000 crores excluding GST, following the deal.

The SECI project locations are in Chhattisgarh, and the extent of the order comprises engineering, design, supply, construction, installation, testing, O&M, and commissioning.

A statement by the company stated, “With this win, the Company has strengthened its diversified offerings with BESS (Battery Energy Storage System) within the renewable segment,”

Praveer Sinha, CEO & MD, Tata Power, said that “We are glad to receive this prestigious order from SECI to build Solar EPC projects along with India’s largest utility-scale BESS project. This is the second grid-scale solar plant with BESS and is recognition of Tata Power Solar’s pioneering work in project execution capabilities in the solar energy domain.” 

Tata Power Solar has already completed big projects such as 80 MW NTPC Jetstar, 50 MW Kasargod in Kerala, 100 MW TPREL Raghanesda, 100 MW GIPCL Raghanesda,  and 30 MW GSECL. Another 50 MW solar project with a BESS of 50 MWh battery storage is being built in Leh.

India is the fourth-largest oil importer and the sixth-largest importer of petrochemical products in the world. The increased use of renewable resources in India is intended to lessen the country’s reliance on costly imported fossil fuels. Economic development, rising income, urbanization, and rising per capita energy demand, together with the government’s expanding engagement in the development of cleaner fuels, have increased India’s renewable energy output. Renewable energy sources such as solar, hydro, wind and nuclear energy all have significant promise in India soon.

The Indian government has set a goal of producing 175 gigawatts of solar energy by 2022. Because the renewable energy industry operates in a capital-intensive market, it is critical to set up a long-term capital pool for the industry. This will aid in the acceleration of the long-term growth of renewable energy in India.

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