Shares of Tata Power Company Ltd ended at Rs 245.25, up by Rs 3.80, or 1.57 percent on the BSE.
Tata Power Solar Systems Ltd (TPSSL) said on Thursday (September 15) it has received the letter of award (LoA) for setting up a Rs 612-crore 100 MW ground-mounted solar project for SJVN Ltd (SJVN) in Gujarat.
TPSSL is a 100 percent subsidiary of Tata Power Renewable Energy Limited (TPREL) and Tata Power holds a 93.94 percent stake in the latter.
SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind, and in power transmission and power trading. It is a joint venture between the governments of India and Himachal Pradesh.
The bids for the project, located at the Raghanesda solar park plot C, Gujarat, were invited earlier this year, the company said.
The LoA was awarded through tariff-based competitive bidding. The project will get commissioned within 11 months from the date of receiving of LoA, it added.
Ashish Khanna, CEO of TPREL, said, “The project win further solidifies our expertise in developing and deploying large-scale renewable projects for the public and corporate sector clients around the country."
TPSSL has commissioned several large-scale solar ground-mounted projects in the country. It is a pioneer in curating customised strategic renewable projects, and with this win, its total portfolio will touch 9.9GWp. To date, TPSSL's total order book stands at Rs 15,520 crore.