Tata Power receives 'Letter of Award' from MSEDCL for setting up of 300 MW Hybrid Project

TP Saurya Limited (TPSL), a wholly owned subsidiary of Tata Power, received the 'Letter of Award' (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up of 300 MW hybrid power capacity. This project has been awarded through Tariff-based competitive bidding followed by e-Reverse auction.

The Company has received this "Letter of Award" (LoA) in a bid announced by MSEDCL. The project will be commissioned within 18 months from the date of PPA execution.

Speaking on the achievement, Dr. Praveer Sinha, CEO & MD, Tata Power said, "It is a proud moment for Tata Power to win this large scale Hybrid(Wind & Solar) power generation project. This will further promote the share of renewable power in the overall energy mix thus strengthening our position as the market leader in the renewable space. It will also encourage other states to switch to green power to usher in an era of clean energy in the country."

With this, the total renewable capacity of Tata Power will reach 4907MW with an installed capacity of 2953MW and 1954MW under implementation.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 221.95 as compared to the previous close of Rs. 227.90. The total number of shares traded during the day was 4514077 in over 58407 trades.

The stock hit an intraday high of Rs. 230.15 and intraday low of 219.25. The net turnover during the day was Rs. 1005022554.00.

Source : Equity Bulls

Keywords

TataPowerCompany INE245A01021 TPSaurya LoA MSEDCL HybridPowerCapacity