Tata Power Company rises as its arm signs PDA with Endurance Technologies
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Tata Power Company is currently trading at Rs. 258.20, up by 3.35 points or 1.31% from its previous closing of Rs. 254.85 on the BSE.
The scrip opened at Rs. 257.00 and has touched a high and low of Rs. 259.35 and Rs. 256.10 respectively. So far 189081 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 276.50 on 08-Sep-2023 and a 52 week low of Rs. 182.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 259.35 and Rs. 253.05 respectively. The current market cap of the company is Rs. 81433.23 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 24.66% and 28.47% respectively.
Tata Power Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has signed a Power Delivery agreement (PDA) with Endurance Technologies, a leading auto component manufacturer, through a special purpose vehicle (SPV) TP Green Nature, for the development of 12.5MW AC Captive Solar Plant.
The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year. This will help in reducing Endurance Technologies' carbon footprints and mitigate approximately 9,125 metric tonnes (MT) of carbon emissions annually. The project is expected to be completed within 12 months of the signing of the PDA.
With this proposed captive solar power plant, the overall renewable energy portfolio of TPREL reaches a total capacity of 7,889 MW. This includes 3,701 MW of projects in various stages of implementation, underscoring TPREL's commitment to expanding its clean energy footprint. The company's operational capacity currently stands at 4,188 MW comprising 3,185 MW of solar and 1,003 MW of wind energy.
Tata Power Company is India’s largest integrated power company.
