Tata Power jumps 11% as company bags Rs 1,730 crore order

Tata Power's unit, Tata Power Solar Systems, received the Letter of Award to build the 300 MW CPSU-II for NTPC.

Reuters
NEW DELHI: Shares of Tata Power jumped over 11 per cent in Tuesday’s trade after its subsidiary won a contract to build NTPC’s power unit.

The company’s wholly-owned subsidiary -- Tata Power Solar Systems -- received the Letter of Award (LoA) to build the 300 MW CPSU-II for NTPC at an all-inclusive price of Rs 1,730.16 crore, Tata Power said in a statement.

The Commercial Operation Date (COD) for this grid-connected solar photovoltaic project is set for September 2021 (18 months). With this order, the order book of the company stands at approximately Rs 8,541 crore, including external and internal orders.


In September 2019, post reverse auction, the company had received LoA to develop a 105 MWp Floating Solar Project worth approximately Rs 343 crore including 3 years O&M. This project is one of the most prominent floating solar projects in the country.

The shares of the company closed 11.42 per cent higher at Rs 33.65 on BSE.

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