Tata Energy Photo voltaic has landed what it claims to be India’s largest single photo voltaic EPC order of 1GW for roughly INR5500 crore (US$715 million) from Indian state-owned utility SJVN Ltd.
The venture will use Indian cells and modules and is being developed beneath the nation’s Ministry of New and Renewable Vitality’s (MNRE) Central Public Sector Enterprise (CPSU) scheme.
The CPSU was designed to ascertain photo voltaic initiatives utilizing home cells and modules in a “WTO compliant method” and runs till 2023, with the federal government of India funding as much as INR70 lakhs/MW (US$90,000/MW).
Situated within the photo voltaic hotspot state of Rajasthan, the place Tata Energy has lately commissioned a 160MW photo voltaic farm, the venture can be accomplished inside two years and can cowl greater than 5,000 acres of land, Tata Energy Photo voltaic stated.
“We’re proud to have received this mega photo voltaic venture from SJVN. Implementation of such a big venture displays our dedication to the promotion of unpolluted and inexperienced vitality within the nation and strengthens our place because the main photo voltaic EPC participant,” stated Tata Energy CEO Praveer Sinha.
Following the take care of SJVN, the corporate’s order reserving has surpassed INR12,000 crore (US$1.5 billion) with a cumulative portfolio of greater than 9.3GW for utility scale renewables initiatives.
In April, Tata Energy introduced that it had commissioned a 300MW photo voltaic venture within the Indian state of Gujarat, which it claimed was the nation’s largest single-axis photo voltaic tracker system. Later within the month, a consortium led by personal fairness big BlackRock Actual Property acquired a ten.53% stake in Tata Energy Renewables by a INR4,000 crore (US$525 million) funding, with the funds used to help its goal of reaching 20GW of renewables within the subsequent 5 years.
Mother or father firm Tata Energy is a stalwart of India’s photo voltaic sector, having almost 2.5GW of photo voltaic PV on-line within the nation and working at each ends of the worth chain.
In February, it said its intention to make the most of India’s manufacturing linked incentive (PLI) scheme and different coverage mechanisms because it units up new cell and module manufacturing capability within the nation. Tata Energy Photo voltaic didn’t disclose the place it intends to obtain the cells and modules for the venture from.