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Tata Energy Photo voltaic mentioned on Wednesday it has acquired a letter of award for an engineering, procurement and building (EPC) contract to construct 210 mega-watt (MW) photo voltaic initiatives for TPC. The whole order worth of the initiatives is about Rs 686 crore and the commissioning date for NTPC is ready for November 2022.
With this contract addition, the order pipeline of Tata Energy Photo voltaic stands at about 2,800 MW with an approximate worth of Rs 13,000 crore, the corporate mentioned.
Tata Energy’s photo voltaic EPC enterprise has proven vital development within the latest years, with earnings earlier than curiosity, taxes, depreciation and amortisation (Ebitda) for this enterprise phase growing greater than twice yearly to Rs 185 crore on the finish of FY21.
Analysts count on Ebitda from the photo voltaic EPC phase to rise at 16% compound annual development charge over FY21-23 to Rs 440 crore. The corporate had receved new photo voltaic EPC orders price Rs 2,294 crore in Q4FY21 itself.
“Tata Energy Photo voltaic is the chief in producing photo voltaic vitality throughout the nation and this (newest order) additional validates Tata Energy Photo voltaic’s wonderful execution expertise in photo voltaic initiatives,” Praveer Sinha, CEO of Tata Energy mentioned. On the finish of FY21, Tata Energy photo voltaic EPC order guide capability was at 2,824 MW, of which 1,100 MW have been from NTPC. About 550 MW of Tata Energy Photo voltaic’s total EPC orders, price `2,000 crore, had necessary home content material requirement.
Enthused by the market visibility provided via numerous central authorities photo voltaic schemes with the necessary home content material requirement, Tata Energy Photo voltaic has additionally just lately placed on stream extra module and cell manufacturing capability, taking the overall capability to 1,100 MW, from 700 MW that existed earlier.
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