04-Sep-2023
2 mins read
Tata Power Company’s stock recently touched a new 52-week high, reaching Rs 258.45 in early trading on September 4. This uptick comes on the heels of a series of promising renewable energy deals, including a 6 MW AC project agreement with Chalet Hotels.
Partnership with Chalet Hotels for a 6 MW AC Project
The company’s subsidiary, Tata Power Renewable Energy Limited (TPREL), signed a Power Delivery Agreement (PDA) with Chalet Hotels for a 6 MW AC captive project. This agreement will facilitate the generation of approximately 13.75 million units of clean energy from renewable sources.
Group PDA with ANAND Group
Further adding to Tata Power’s renewables portfolio, TPREL has entered into a group PDA with the ANAND Group, a global leader in automotive systems and parts. Targeting a capacity of 4.4 MW AC, the project aims to create 10 million units of eco-friendly energy, with the potential to reduce yearly carbon emissions by around 5,500 tonnes. This goal is in strong alignment with Tata Power’s commitment to deliver cleaner and more sustainable energy solutions to its Commercial and Industrial (C&I) clientele.
Collaboration with Tata Motors for 9 MWp On-Campus Solar Plant
Adding another feather to its cap, TPREL has also inked a deal with Tata Motors Limited for a 9MWp solar plant at their Pantnagar facility in Uttarakhand. The project will be completed within six months and will feature both rooftop and ground-mounted installation units.
Extended R&D Commitment Till 2026
Tata Power Delhi Distribution Ltd (Tata Power-DDL), a collaborative enterprise between Tata Power and the Government of the National Capital Territory of Delhi, has been granted a three-year extension for its internal research and development division by India’s Department of Scientific and Industrial Research (DSIR), a component of the Ministry of Science and Technology.
A Greener Future Awaits
With these deals and extensions in place, Tata Power continues to reinforce its commitment to renewable energy, combating climate change, and laying the foundation for a more sustainable future.