Page 10 - Tata Power

Tata Power Q4 results: Consolidated net profit rises 54% to Rs 778 crore

The company's board recommended a dividend of Rs 2 per share

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Stocks to watch on May 04, 2023: Adani Enterprises, Bombay Dyeing, Dabur, HDFC, Hero MotoCorp, Tata Power and TVS Motors may see some action owing to Q4 results on Thursday.

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S&P Global Ratings upgrades Tata Power to 'BB+' with stable outlook

S&P Global Ratings has upgraded its rating on Tata Power to 'BB+' with a stable outlook. "S&P Global Ratings has upgraded its rating by one notch on the company to BB+ rating with a stable outlook from BB with a stable outlook," Tata Power said in a regulatory filing. Tata Power, together with its subsidiaries and joint entities, has a generation capacity of 14,076 MW, of which 37 per cent comes from clean energy sources. The company has the distinction of being among the top private players in each sector of the value chain, including solar rooftops and value-added services.

Power stocks to stay charged as heat wave sweeps India, say analysts

Power distribution companies, such as Torrent Power, Tata Power, NTPC, and CESC, are expected to reap benefits of increasing power consumption

Tata Power DDL, NTPC Vidyut Vyapar Nigam ink pact for hydro power supply

Tata Power Delhi Distribution has inked a pact with NTPC Vidyut Vyapar Nigam to get 200MW hydro power supply for meeting its projected peak demand for the next five years during the summer months, from May to September. Tata Power Delhi Distribution Ltd (Tata Power DDL) supplies electricity to over seven million populace in North Delhi. Tata Power DDL signed its first medium-term Hydro PPA for 200MW with NTPC Vidyut Vyapar Nigam Ltd, to meet the projected peak demand, a company statement said. Corresponding to the agreement, the NVVNL will supply power to Tata Power-DDL for the next five years during the summer months (May to September), beginning from 1st May, 2023, it stated. The collaboration will help Tata Power-DDL expand its green portfolio. The discom envisioned various policy decisions emphasizing increasing reliance on non-fossil resources and reaffirming its commitment to making a greener planet. Further, considering the prevailing summer period, Tata Power-DDL has made

Tata Power, Adani raise electricity tariff for customers in Mumbai

The commission cited an increase in fuel cost, power purchase cost and shortfall in revenue due to the impact of Covid-19, and an increase in transmission system costs

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Tata Power re-appoints Praveer Sinha on positions of CEO, Managing Director

Tata Power on Thursday said it has re-appointed Praveer Sinha as the company's Chief Executive Officer (CEO) and Managing Director. His re-appointment to the top post is for a period of four years from May 1, 2023, to April 30, 2027, subject to the approval of the members of the company, Tata Power said in a regulatory filing. "Based on the recommendation of the Nomination and Remuneration Committee, the Board, at its meeting held on March 30, 2023, approved the re-appointment of Praveer Sinha as the CEO & MD of the company," it added. His present tenure as a CEO and MD is scheduled to conclude on April 30, 2023. "Under his current leadership, Tata Power is at the forefront of transforming itself from a century-old power utility company into a new-aged sustainable, technology-oriented and customer-centric green energy solutions company," the company said. A PhD from the Indian Institute of Technology, Delhi, Sinha is a visiting Research Associate at Massachusetts Institute of ...

First Solar, Avaada among winners of India's $2.4 billion green stimulus

Avaada Group, backed by Thailand's oil and gas major PTT Pcl, was also awarded a grant, according to its chairman, Vineet Mittal

Gujarat govt paid Rs 16,900 cr in 2 years to Adani, Tata to buy electricity

The Gujarat government has paid Rs 16,900 crore to Adani Power and Tata Power for purchasing electricity during the last two years, the state Assembly was informed on Monday. As per the data tabled by Energy Minister Kanubhai Desai during Question Hour, the state government paid Rs 8,160 crore to Adani Power Mundra Ltd while Rs 8,784 was paid to Coastal Gujarat Power Ltd, a wholly owned subsidiary of Tata Power, in 2021 and 2022. While responding to a set of questions raised by Congress MLAs about the purchase of electricity from these private players, Desai said the state government paid Rs 2,760 crore to Adani Power in 2021 to buy 5,589 million units while Rs 5,400 crore was paid to the firm in 2022 for nearly 6,000 million units. In 2021, the state government paid Rs 2,751 crore to Tata Power to buy 7,315 million units, while the cost came to Rs 6,033 crore for 10,446 million units in 2022. The data suggested per unit cost of Rs 2.83 paid to Adani in January 2021 went up to Rs 8

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Stocks to Watch: Tata Motors will increase prices of its commercial vehicles (CV) range by 5 per cent starting April 1, in what would be its fourth such price hike this fiscal year

Tata Power Renewable Energy to set up 200 MW solar project in Maharashtra

Tata Power Renewable Energy Ltd (TPREL) on Tuesday said it has received a letter of award from MSEDCL to set up a 200 MW solar project in Solapur, Maharashtra. The letter of award has been received from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project will be commissioned within 18 months from the PPA (Power Purchase Agreement) execution date. The project was awarded through competitive bidding, followed by a reverse e-auction, TPREL said in a statement. The installation will reduce around 432.94 million kg of CO2 emissions annually and will be one of the most substantial solar PV projects. "We have a current countrywide portfolio of more than 6.5 GW (gigawatt). This project will further strengthen our position as a leader in providing clean and reliable power in the state for years to come," Ashish Khanna, CEO of TPREL, said. TPREL is a wholly-owned subsidiary of Tata Power.

Tata Power Renewable Energy signs PPA with TPDDL for 510 MW hybrid project

Tata Power Renewable Energy has signed an agreement with Tata Power Delhi Distribution Ltd (TPDDL) to supply electricity from its 510 MW solar-wind hybrid project, a statement said on Friday. It is one of the largest hybrid projects in the country with the capacity bifurcation of 170 MW solar & 340 MW wind power. The project will save an average of 1540 MUs (million units) of CO2 emissions annually for Tata Power-DDL, a joint venture between Tata Power and the Government of Delhi, that supplies electricity to a populace of over 7 million in North Delhi, the statement said. The power purchase agreement signed between Tata Power Renewable Energy Ltd and TPDDL has the capacity bifurcation of 170 MW solar and 340 MW wind power. Located in Karnataka, it is one of the largest hybrid projects in the country and will be commissioned within 24 months from the PPA execution date. Ashish Khanna, CEO, Tata Power Renewable Energy Ltd, said, Tata Power Renewable has signed one of the largest .

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Tata Power partners with Enel Group to power digitalisation, automation

Tata Power on Thursday said that it has collaborated with Enel Group to power digitalisation and automation of India's distribution network. "Tata Power joined hands with Enel Group -- one of the largest integrated players in the global power and renewable markets -- for implementing two key pilot projects through former's Delhi based distribution business," a company statement said. The agreement towards the same was signed by Robert Ronald Denda - CEO Gridspertise Srl, and Praveer Sinha, CEO & MD, Tata Power, in New Delhi. The agreement was signed on the sidelines of the official visit of the President of the Council of Ministers of Italy Giorgia Meloni. Under the agreement, Tata Power's distribution arm Tata Power Delhi Distribution Ltd (TPDDL), serving 1.9 million customers in north Delhi, will work closely with Enel Group affiliated company Gridspertise, jointly controlled by Enel Grids and CVC Capital Partners, on project implementation. The first pilot project will focus .

Reliance, Tata Power, others bid for Rs 19,500 cr solar incentives

The financial assistance is part of PM Modi's aim to turn the nation into a manufacturing powerhouse, creating more jobs in the economy and reducing imports that can drain foreign exchange

Tata Power Renewable gets Rs 2,000 cr infusion from GreenForest

Tata Power Renewable Energy Ltd (TPREL) has received an investment of Rs 2,000 crore from GreenForest New Energies Bidco with allotment of 20 crore preference shares to the latter. "TPREL...has received the second and final round of investment of Rs 2,000 crore from GreenForest and has successfully allotted 20,00,00,000 Compulsorily Convertible Preference Shares (CCPS) at face value of Rs 100 each at par aggregating to Rs 2,000 crore on a preferential basis to GreenForest," a statement said. Subsequent to this second tranche, TPREL has now received an investment of Rs 4,000 crore. GreenForest holds 6.06 per cent equity in TPREL and on conversion of the above CCPS, it will hold 9.76-11.43 per cent stake in TPREL, subject to the equity valuation on final conversion. The completion of this equity infusion will fund TPREL's aggressive growth plans. Over the next five years, it aims to achieve a portfolio of 20 GW of renewable assets and a market leading position. "The completion of Rs

Tata Power Renewable board okays allotment of 200 mn shares to GreenForest

Tata Power on Tuesday said the board of its arm Tata Power Renewable Energy has approved allotment of 20 crore preference shares worth Rs 2,000 crore to GreenForest New Energies Bidco. "Board of Directors of Tata Power Renewable Energy Ltd (TPREL), a subsidiary of the Company, today approved the allotment of 20,00,00,000 Compulsorily Convertible Preference Shares at face value of Rs 100 each at par aggregating to Rs 2,000 crore on a preferential basis to GreenForest New Energies Bidco Ltd (GreenForest), a Company incorporated under the laws of England and Wales," a BSE filing said. With this, both the tranches of investment of Rs 2,000 crore each in the TPREL made by GreenForest are completed in accordance with the terms of the agreements, it stated.

India invokes emergency law to force coal-based power plants to up output

Many of India's power plants that use imported coal have not operated at full capacity recently because they have found it difficult to compete with power generated from cheap domestic coal