Tata Power Solar Systems has secured approval to set up a 300 MW solar project for NLC India in Rajasthan, valued at Rs 1,755 crore.

Located in Barsingar, in the Bikaner district, the upcoming solar project is projected to produce over 750 million units of electricity annually while reducing 6 lakh tons of CO2 emissions annually. NLC India is developing the project under the CPSU scheme, which requires domestically manufactured cells and modules.

Tata Power Solar Systems will oversee the commissioning of the project and offer operation and maintenance support for three years after its completion. The project is expected to be commissioned within 18 months of receiving the Letter of Award.

Shares of Tata Power have surged following the announcement. At 12:30 pm, the shares were trading at Rs 190.30, up 2.59% from the previous close.

The company will also handle the project execution, from design to commissioning and the evacuation system up to the delivery point. The power company has also commissioned a 220 KV pooling substation to ease its project execution and meet peak electricity demand in the summer. The company will also provide operation and maintenance support for three years after the commercial operation declaration (COD).

NLC India is a leading public sector enterprise in the energy sector, with extensive lignite production and a substantial stake in both thermal and renewable power generation.

Tata Power Solar Systems has commissioned some of the country’s most significant EPC and large-scale solar projects. With this win, Tata Power Solar Systems’ total portfolio will touch 11.5 GWp. As of March 29, the company’s total order book is about Rs 17,000 crore.