Tata Power to provide Green Power in Jharkhand to Tata Steel Limited

Tata Power, India's largest integrated power company, announced that TP Saurya Limited, the wholly owned subsidiary of The Tata Power Company Limited, has signed a Power Purchase Agreement with Tata Steel Limited (TSL) to develop a 15 MW solar project at Jamshedpur, Jharkhand.

The energy will be supplied to TSL under a Power Purchase Agreement (PPA) valid for a period of 25 years from scheduled commercial operation date. The project is required to be commissioned within 6 months from the date of execution of the PPA.

The Plant is expected to generate an average of 32 MUs of energy per year and will annually offset approximately average 25.8 Million Kg of CO2.

Tata Power's renewable capacity will increase to 4,047 MW, out of which 2,687 MW is operational and 1,360 MW is under implementation including 15 MW won under this PPA.

Speaking on this achievement, Dr. Praveer Sinha, CEO & MD, Tata Power, said, "We are glad to collaborate with Tata Steel to reduce their carbon footprint and reaffirm the Tata Group's commitment for sustainability. Presently the association is limited to Tata Steel at Jamshedpur and we look forward to working closely with them for covering all their other plants across India."

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.105.25 as compared to the previous close of Rs. 100.4. The total number of shares traded during the day was 6809879 in over 33606 trades.

The stock hit an intraday high of Rs. 105.5 and intraday low of 102.5. The net turnover during the day was Rs. 708831777.

Source : Equity Bulls

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