April 9 (Renewables Now) - The solar energy subsidiary of Tata Power Co Ltd (BOM:500400) has received a Letter of Award from state-owned utility NTPC Ltd (BOM:532555) for a 300-MW solar photovoltaic (PV) project.
The particular project was secured in a reverse bidding auction held in February at an all-inclusive price of INR 17.3 billion (USD 226.7m/EUR 208.5m), Tata Power said on Tuesday. The capacity was tendered under the Central Public Sector Undertaking (CPSU)-II programme, which requires all cells and modules used to be locally manufactured.
The 300-MW project will be executed within 18 months, with commercial operation and grid-connection scheduled for September 2021. Tata Power said it will use its own cells and modules.
The latest award comes after in September 2019 NTPC selected Tata Power Solar Systems Ltd to develop a 105-MWp floating solar array in a water reservoir in Kayamkulam district, Kerala.
(INR 10 = USD 0.131/EUR 0.120)