Tata Power Solar bags 'India's largest single EPC order' of 1GW for US$ 715m.

• Tata Power Solar has landed what it claims to be India's biggest single solar EPC order of 1GW for roughly INR5500 crore (US$ 715 million) from Indian state-owned utility SJVN Ltd

The project will make use of Indian cells and also modules and also is being created under the nation's Ministry of New and Renewable Energy's (MNRE) Central Public Sector Undertaking (CPSU) scheme.

The CPSU was made to develop solar projects using residential cells as well as modules in a "WTO certified manner" as well as runs until 2023, with the government of India funding as much as INR70 lakhs/MW (US$ 90,000/ MW).

Located in the solar hotspot state of Rajasthan, where Tata Power has just recently appointed a 160MW solar farm, the project will be finished within 2 years as well as will cover more than 5,000 acres of land, Tata Power Solar stated.

" We are proud to have actually won this huge solar project from SJVN. Implementation of such a huge project reflects our dedication to the promotion of clean and green energy in the nation as well as strengthens our placement as the leading solar EPC player," stated Tata Power CEO Praveer Sinha.

Adhering to the deal with SJVN, the business's order reservation has actually surpassed INR12,000 crore (US$ 1.5 billion) with a cumulative portfolio of more than 9.3 GW for utility scale renewables projects.

In April, Tata Power introduced that it had actually appointed a 300MW solar project in the Indian state of Gujarat, which it claimed was the country's largest single-axis solar tracker system. Later in the month, a consortium led by private equity titan BlackRock Real Assets got a 10.53% stake in Tata Power Renewables via a INR4,000 crore (US$ 525 million) financial investment, with the funds used to support its target of reaching 20GW of renewables in the following 5 years.

Parent firm Tata Power is a stalwart of India's solar sector, having nearly 2.5 GW of solar PV online in the nation and operating at both ends of the value chain.

In February, it specified its aim to make use of India's production connected motivation (PLI) scheme and also other policy mechanisms as it establishes brand-new cell and also module manufacturing capacity in the nation. Tata Power Solar did not divulge where it intends to obtain the cells as well as modules for the project from.