Tata Power Company advanced 1.96% to Rs 195.30 after the company's wholly-owned subsidiary Tata Power Solar Systems bagged EPC orders worth Rs 538 crore from Energy Efficiency Services (EESL).
The contract is for setting up multiple distributed ground mounted solar projects totalling 100 MW. The EESL project sites are located in Maharashtra.
The work secured includes engineering, design, supply, construction, erection, testing, O&M and commissioning of the solar projects. The commissioning date of the projects is set for 12 months
With this order win, the utility scale EPC order book of Tata Power Solar currently stands at approximately 4 GW (DC) capacity with an approximate value of Rs 9,264 crore.
Dr. Praveer Sinha, CEO & MD, Tata Power said, We are enthused with the new contract win from EESL for distributed ground mounted solar EPC projects. This is yet another recognition of Tata Power's strong credentials in the solar energy domain and project execution capabilities.
Tata Power together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 13,061 MW. The company has presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and power trading.
The company reported 89.25% rise in consolidated net profit to Rs 391.03 crore on a 54.47% increase in net sales to Rs 9,968.03 crore in Q1 FY22 over Q1 FY21.
The scrip advanced 3.73% to hit a record high of Rs 198.70 in trade today.
The stock has zoomed 278.12% to currently trade at Rs 198.70, from its 52-week low of Rs 51.65 hit on 29 October 2020.
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