Tata Power shares jump 2% as co commissions 126 MW floating solar project

Synopsis

Tata Power subsidiary completed a large floating solar project in Madhya Pradesh. The 126 MW project uses over 200,000 solar modules. It generates a significant amount of energy and reduces carbon emissions. The project overcame challenges like fluctuating water levels. It supplies power to the Madhya Pradesh Power Transmission Company.

Shares of Tata Power jumped 2.3% to a high of Rs 408.40 on the BSE today after the company announced that its wholly-owned subsidiary, Tata Power Renewable Energy had commissioned one of India’s largest floating solar projects, 126 MW Omkareshwar.

“Tata Power Renewable Energy Limited (TPREL), a prominent player in India’s renewable energy sector and a subsidiary of The Tata Power Company Limited, announces the successful commissioning of the Omkareshwar Floating Solar Project. With an impressive capacity of 126 MW, this project stands as one of India’s largest floating solar installations, marking a significant milestone in the country's renewable energy journey,” said the company in an exchange filing.

The installation features 213,460 bifacial glass-to-glass modules and offsets approximately 173,893 tonnes of CO2 annually.

It is home to the world’s largest Inverter Floating Platform (IFP), covering 260 hectares of water body area and the contract worth Rs 596 crore was awarded by NHDC to TPREL.

Located in the Khandwa district of Madhya Pradesh, the Omkareshwar Floating Solar Project supplies sustainable power to the Madhya Pradesh Power Transmission Company.

Uniquely positioned between the Indirasagar and Omkareshwar hydroelectric reservoirs, this innovative project has navigated complex environmental and logistical challenges—such as fluctuating water levels, high winds, and limited site access— reaching successful completion within just 26 months.

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“We are delighted to set a new benchmark with one of the largest floating solar installations in the country, showcasing how innovative engineering can address environmental challenges. This project is a powerful example of how we can harness renewable resources to drive substantial carbon reduction while optimizing the use of our precious land and water resources,” said Deepesh Nanda, CEO and Managing Director of TPREL.

The project features 2,13,460 bifacial glass-to-glass modules, generating 2,04,580 MWh of energy annually while offsetting 173,893 tonnes of CO2 emissions each year.

Shares of Tata Power closed 3.7% lower at Rs 399.05 on the BSE on Wednesday.

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