Tata Power rises after its step down arm facilitates Rs 3,500 crore of customer financing for solar projects
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Tata Power Company is currently trading at Rs. 390.80, up by 1.95 points or 0.50% from its previous closing of Rs. 388.85 on the BSE.
The scrip opened at Rs. 392.35 and has touched a high and low of Rs. 394.80 and Rs. 387.85 respectively. So far 654929 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 396.70 on 01-Feb-2024 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. 396.70 and Rs. 366.80 respectively. The current market cap of the company is Rs. 124937.78 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 26.28% and 26.85% respectively.
Tata Power Company’s subsidiary -- Tata Power Renewable Energy’s (TPREL) wholly owned subsidiary -- Tata Power Solar Systems (TPSSL) has facilitated over Rs 3,500 crore of customer financing for solar projects during the last 4.5 years. This has led the Company to emerge as the nation’s most preferred and trusted green energy partner which is mainstreaming the adoption of Solar Energy in the country. This momentum built over the years will help support the wide scaled adoption of solar energy in the country.
TPSSL has achieved this feat through collaborations with more than 20 active financing partners, including PSUs, Private Banks, and NBFCs. The extensive network consists of State Bank of India (SBI), Small Industries Development Bank of India (SIDBI), Union Bank of India (UBI), HDFC, Bank of Baroda, Tata Capital, Greenlance Energy, Ecofy, Credit Fair, and Paytm as the primary lending partners.
TPSSL has designed financing models to cater to diverse customer profiles, accommodating both Residential comprising individual houses and housing societies and Commercial & Industrial clients including MSMEs, Mid and Large sized Corporates, Hospitals, Institutions etc. TPSSL has successfully facilitated financial solutions to over 2,200 Commercial and Industrial customers. These projects are valued at approximately Rs 3,400 crore. The quantum of solar power financed includes 850 MW for non-residential and about 9 MW for residential customers. Further, TPSSL has facilitated residential loans to over 1,000 customers, contributing to projects valued at around Rs 55 crore.
Tata Power Company is India’s largest integrated power company.
