Tata Power arm commissions 66 MW EPC project for Vibrant Energy

Tata Power Company on Wednesday announced that its wholly-owned subsidiary, Tata Power Solar Systems, commissioned an engineering, procurement, and construction (EPC) project of 66 megawatt (MW) for Vibrant Energy.

The project will produce 110,029 units of energy annually. The installation will lead to a reduction of carbon emissions of up to 9 lakh tonnes. The project is spread over 191 acres comprising 1,27,268 solar modules and the project has been completed within a record nine-month period.

Commenting on the project commissioning Dr. Praveer Sinha, CEO & MD of Tata Power, said, "We consider the commissioning of this large EPC project for Vibrant Energy to be a significant accomplishment since it demonstrates our best-in-class project execution capabilities."

The Tata group company said that with the commissioning of this project, the company's total utility-scale solar project portfolio touches 9.7 GWp.

Vibrant Energy's mission is to lead the transition of corporate & industrial (C&I) customers to a more sustainable, resilient, and low-cost energy future. The platform has been delivering on this mission through its extensive project portfolio of 859MW Assets Under Management across India. Vibrant Energy is an indirectly owned portfolio company of Macquarie's Green Investment Group (GIG) operating on a standalone basis.

Tata Power Solar is one of India's largest integrated solar companies.

Tata Power is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,635 MW. The company has a presence across the entire power value chain - generation (renewable, hydro and thermal power), transmission & distribution, coal & freight, logistic, trading and consumer-facing solar rooftop and electric vehicle charging businesses.

On a consolidated basis, Tata Power Company reported 28% rise in net profit to Rs 503.11 crore on 15.4% increase in net sales to Rs 11,959.96 crore in Q4 FY22 over Q4 FY21.

Shares of Tata Power Company fell 0.70% to close at Rs 218.90 on the BSE.

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