Tata Power moves up on partnering with Druk Green Power to develop clean energy projects in Bhutan
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Tata Power Company is currently trading at Rs. 408.75, up by 0.65 points or 0.16% from its previous closing of Rs. 408.10 on the BSE.
The scrip opened at Rs. 412.00 and has touched a high and low of Rs. 412.00 and Rs. 397.50 respectively. So far 607648 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 494.85 on 27-Sep-2024 and a 52 week low of Rs. 256.95 on 24-Nov-2023.
Last one week high and low of the scrip stood at Rs. 417.80 and Rs. 397.50 respectively. The current market cap of the company is Rs. 129219.53 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 26.13% and 27.02% respectively.
Tata Power Company has entered into a strategic partnership with Druk Green Power Corporation (DGPC), a subsidiary of Druk Holding and Investments, sole generation utility of Bhutan, to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan.
This is in keeping with Bhutan’s vision for its energy sector which is to take its overall generation capacity to 25,000 MW by 2040 for its energy security and regional energy integration. Bhutan plans to achieve this target through diversification in its energy portfolio beyond traditional hydropower, which would include solar and geothermal energy. This will extend to diversifying project structuring and financing through such strategic partnerships.
With the support of the Royal Government of Bhutan and the Government of India, this marks the largest partnership between two of the leading power companies of the two nations in Asia's clean energy sector. Both companies have a stellar track record in the energy sector and a long-standing relationship having worked together for over 15 years.
This strategic partnership signifies Tata Power's pre-eminence as the most preferred clean energy partner not only in India but also as a regional leader. This partnership will help unleash Bhutan’s great potential for hydropower and its important role in ensuring energy security in the region.
Tata Power Company is India’s largest integrated power company. It is a pioneer credited with steering the energy sector on technology, process and platform.
