Tata Power to develop 225 MW hybrid renewable power project

Tata Power, India's largest integrated power company, announced that Tata Power Green Energy Limited (TPGEL), the Company's wholly owned subsidiary, has received a Letter of Award from Tata Power Mumbai Distribution on 13th July 2020 to develop a 225 MW hybrid renewable project.

The energy will be supplied to Tata Power Mumbai Distribution under a Power Purchase Agreement (PPA), valid for a period of 25 years from scheduled commercial operation date. The Company has won this capacity in a bid finalised recently by Tata Power Mumbai Distribution. The project is required to be commissioned within 18 months from the date of execution of the PPA.

The Plant is expected to generate about 700 MUs of energy per year and will annually offset approximately 700 Million Kg of CO2.

Tata Power's renewable capacity will increase to 3,782 MW, out of which 2,637 MW is operational and 1,145 MW is under implementation including 225 MW won under this LOA.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.47.1 as compared to the previous close of Rs. 48.15. The total number of shares traded during the day was 863820 in over 1650 trades.

The stock hit an intraday high of Rs. 48.85 and intraday low of 46.9. The net turnover during the day was Rs. 41299396.

Source : Equity Bulls

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