New Delhi: Tata Power Solar Systems Limited (TPSSL), a subsidiary of Tata Power Renewable Energy Limited (TPREL), has received the 'Letter of Award' (LoA) of Rs 596 crore for setting up a 125 MWp floating solar project from NHDC Limited (NHDC), said an official statement on Wednesday. NHDC had invited bids early this year for this project at the Omkareshwar reservoir in the Khandwa district of Madhya Pradesh. It will be one of India's largest floating solar power projects.

Tata Power holds 93.94 percent stake in TPREL. NHDC is a joint venture of NHPC Limited and the government of Madhya Pradesh.

The LoA was awarded through tariff-based competitive bidding. The project will be commissioned within 13 months from the date of the letter of award and will provide sustainable power to MP Power Management Company Limited.

Commenting on the news, Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, "This is a significant project for Tata Power Solar and we are honoured to collaborate with NHDC. This partnership will highlight our working and project execution diversity to promote green energy across sectors. Floating solar projects are the game changer for the renewable industry. This project is a true reflection of our ability to pioneer world-class solar projects within a short period of time."

"Tata Power Solar Systems has always been at the forefront, when it comes to the implementation and commissioning of such large-scale solar and renewable projects. With this win, the company's total utility-scale solar project portfolio touches 9.8 GWp. As on date, TPSSL's total order book stands at Rs 14,908 crore," said the statement.

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