Tata Power rises 3% as subsidiary commissions 431 MW DC solar project in MP

The Tata Power scrip rose after the company announced that its unit, Tata Power Renewable Energy, has successfully commissioned the 431 MW DC solar project at Neemuch in Madhya Pradesh

Tata Power share price: Electric power distribution company Tata Power shares rose up to 2.79 per cent to an intraday high of Rs 427.80 per share on Tuesday, December 3, 2024. 

 

The northward move in the Tata Power scrip came after the company announced that its subsidiary, Tata Power Renewable Energy Limited (TPREL), has successfully commissioned the 431 MW DC solar project at Neemuch in Madhya Pradesh. “Perceived to be one of India’s most cost-effective bids for large-scale solar energy production, the project was won through a competitive bidding process,” Tata Power said in a statement.

 

Spanning 1,635.63 acres, the project is India's first solar installation to integrate advanced technology, combining single-axis trackers with bifacial modules, claims Tata Power. 

 

The innovative approach has increased the system's efficiency by over 15 per cent, enabling extended hours of peak power generation, according to Tata Power.

 

Deepesh Nanda, CEO and managing director of Tata Power Renewable Energy, said, “We are thrilled to announce the successful commissioning of the 431 MW DC solar project in Neemuch. At Tata Power Renewables, we are proud to lead the way towards a greener future for India and this project is a testament to our commitment to sustainable energy and innovation while working tirelessly to enhance efficiency and reliability in India’s solar sector. We are confident that this project will not only reduce our carbon footprint but also strengthen our role in powering key infrastructure, including Western Central Railways and Madhya Pradesh Power Management Company Limited."

 

Further, the project overcame major challenges, including rocky terrain, transmission line readiness, and remote site logistics, to achieve this feat, Tata Power highlighted. It also supports sustainability efforts by offsetting an estimated 780,300 tonnes of CO2 emissions annually. 

 

Built to the highest engineering standards, the project features simultaneous SCADA commissioning for optimal performance, compliance with Central Electricity Authority (CEA) regulations, and seamless operation of the Static Var Generator (SVG). Integration of harmonic filters ensures adherence to Western Region Load Dispatch Center (WRLDC) standards.

 

This solar initiative plays a vital role in the regional energy infrastructure, delivering reliable power to the Western Central Railways and Madhya Pradesh Power Management Company Limited. 

 

With this project, Tata Power Renewable Energy Limited (TPREL) has expanded its total renewable energy capacity to 10.9 GW, including 5.5 GW in development and 5.4 GW operational. Of this operational capacity, 4.4 GW comes from solar and 1 GW from wind projects.

 

The market capitalisation of Tata Power is Rs 1,35,897.79 crore. It falls under the BSE 100 category. The 52-week high of Tata Power is Rs 494.85 per share, while its 52-week low is Rs 276.50 apiece.

 

At 1:30 PM, Tata Power shares were trading 2.13 per cent higher at Rs 425 per share. In comparison, BSE Sensex was trading 0.65 per cent higher at 80,771.30 levels.