Tata Power inches up as its arm gets LoA to set up 200 MW solar PV project in Solapur
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Tata Power Company is currently trading at Rs. 202.85, up by 0.60 points or 0.30% from its previous closing of Rs. 202.25 on the BSE.
The scrip opened at Rs. 203.10 and has touched a high and low of Rs. 203.65 and Rs. 202.40 respectively. So far 33146 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 298.00 on 07-Apr-2022 and a 52 week low of Rs. 190.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 206.35 and Rs. 198.75 respectively. The current market cap of the company is Rs. 64625.74 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 24.27% and 28.85% respectively.
Tata Power Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has received the ‘Letter of Award’ (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL), a wholly owned corporate entity under the Maharashtra Government, to set up a 200 MW solar PV project in Solapur, Maharashtra.
The project will be commissioned within 18 months from the PPA execution date. The project was awarded through competitive bidding, followed by a reverse e-auction.
The installation will reduce around 432.94 million kg of CO2 emissions annually and will be one of the most substantial solar PV projects. With this win, the total renewables capacity of TPREL reaches 6,503MW with an installed capacity of 3,909 MW (Solar - 2,981 MW & Wind - 928 MW) and 2,594MW under various stages of implementation.
Tata Power Company is India's Largest Integrated Power Company.
