Tata Power to develop 110 MW Solar Project for Kerala State Electricity Board Limited

Tata Power, India's largest integrated power company, announced that the Company has received a Letter of Award from Kerala State Electricity Board Limited (KSEBL) on 6th January 2021 to develop a 110 MW solar project.

The energy will be supplied to KSEBL 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 announced by KSEBL in September 2020. The project has to be commissioned within 18 months from the date of execution of the PPA.

The Plant is expected to generate about 274 MUs of energy per year and will annually offset approximately 274 Million Kg of CO2.

With this, Tata Power's renewable capacity will increase to 4,032 MW, out of which 2,667 MW is operational and 1365 MW is under implementation including 110 MW won under this LOA.

Speaking on this achievement, Mr. Praveer Sinha, CEO & MD, Tata Power, said, "We are proud to announce that we have been awarded 110 MW Solar Project by KSEBL, and are thankful to the Government of Kerala and the officials at KSEBL for this opportunity. We are delighted to contribute towards the realisation of our country's commitment towards clean and green energy through solar power generation".

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.81.85 as compared to the previous close of Rs. 82.45. The total number of shares traded during the day was 2718025 in over 10313 trades.

The stock hit an intraday high of Rs. 83.6 and intraday low of 81.5. The net turnover during the day was Rs. 223899946.

Source : Equity Bulls

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