Page 8 - Tata Power

Tata Power Renewable Energy to set up 26 MW captive solar project in Maha

Tata Power Renewable Energy Limited (TPREL) will set up a 26-MW captive solar plant at Ahmednagar in Maharashtra. In this regard, the company said it has already signed a power delivery agreement (PDA) with Neosym Industry Limited (Neosym) which is a leading Gray & S.G. iron casting, manufacturing company. The PDA is for 26-MW AC group captive solar plant, the Tata Power arm said. The project is anticipated to generate 59 million units of electricity annually. It is expected to start from March 2024 and reduce 32,500 tonnes of CO2 emissions annually. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, "This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I consumers. The project is a step towards enhancing renewable energy capacity and reducing carbon emissions in the country." The latest order follows a 28.12-megawatt green energy plant for Sanyo Special Steel Manufacturing

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Tata Power arm in deal with steel maker Sanyo to set up captive solar plant

Tata Power: The solar plant is projected to produce an annual electricity of 61.875 million units and will be likely commissioned by March 2024

Tata Power Renewable Energy inks pact with SSMI to set up 28-MW solar plant

Tata Power Renewable Energy Limited (TPREL) has partnered with Sanyo Special Steel Manufacturing India Private Limited (SSMI) to set up a 28.12-megawatt green energy plant in Maharashtra. In a statement on Thursday, TPREL, an arm of Tata Power, said it has signed the Power Delivery Agreement (PDA) with SSMI through its Special Purpose Vehicle (SPV) TP Alpha Limited. "TPREL joins hands with SSMI for setting up of 28.125 MW AC (39.375 MWp) captive solar plant in Aachegaon under district Solapur, Maharashtra," the statement said. The plant is expected to produce 61.875 million inits (MUs) of electricity annually, which would meet the energy requirement of steel manufacturing unit of SSMI. It will also help to reduce SSMI's carbon footprint by 42,534 tonnes annually. The project will be commissioned by March 2024, as per the arrangement. This project aligns with SSMI's long term strategy towards climate change by reducing dependency on fossil fuel-based energy, lower the carbon footp

Tata Power-DDL gets three year extension from DSIR for in house R&D unit

Tata Power Delhi Distribution Ltd (Tata Power-DDL) has received a three-year extension till 2026 from the Department of Scientific and Industrial Research (DSIR) for its in-house R&D unit. Tata Power Delhi Distribution Ltd is a joint venture between Tata Power and the government of NCT of Delhi. While DSIR is a part of Ministry of Science and Technology, the Government of India. In a statement on Wednesday, Tata Power-DDL said it has received the renewal of recognition for its smart grid lab as the 'in-house research and development (R&D) unit' for the next three years by the Department of Scientific and Industrial Research (DSIR). This recognition as an R&D unit has been renewed for a period of three years till March end 2026. "The acknowledgement by the DSIR provides exemptions from customs duties to the discom, if applicable, for the import or purchase of equipment, instruments, spare parts, or consumables intended for R&D-related activities," the company ...

Tata Power arm to set up 4.4 MW solar energy project for ANANG Group

Tata Power Renewable Energy Limited (TPREL) on Tuesday said it has signed an agreement with automotive components maker ANAND Group to set up a captive 4.4 MW solar project. In a statement, the Tata Power arm said it will facilitate the generation of 10 million units of clean energy and eliminate 5,500 tonnes of carbon emissions annually as part of the agreement. TPREL has signed a power delivery agreement (PDA) for 4.4 MW AC with the ANAND Group, it said. "This group captive project highlights our commitment to support the automotive industry in becoming more sustainable and environmentally focussed," Tata Power Renewable Energy Limited CEO Ashish Khanna said. Previously, Tata Power and the ANAND Group collaborated for a 10.1-MW Solar PV park power project, located in Maharashtra. TPREL's total renewables capacity is at 7,787 MW including 3,655 MW projects under various stages of implementation. It has an operational capacity of 4,132 MW, which includes 3,139 MW solar and 993 MW

Tata Power, Zoomcar join hands to push electric vehicle adoption in India

The collaboration aims to promote Tata Power's EZ Charge points on the Zoomcar platform and will focus on supporting existing and aspiring EV owners along with Zoomcar's existing customers

Tata Power gains 3%, hits 52-week high on improved financial performance

In the past four days, the stock has surged 10% after Tata Power Renewable Energy signed a Power Purchase Agreement for 9MWp on campus solar plant with Tata Motors Pantnagar plant in Uttarakhand

Encouraging results for April-June quarter of FY24 lifts Tata Power stock

However, analysts have mixed views due to muted coal price outlook

Tata Power Delhi Distribution exceeds renewable purchase target for FY23

Tata Power Delhi Distribution on Thursday said it has fulfilled the renewable purchase obligation for the third year in a row and bought 26 per cent of electricity from clean energy sources in 2022-23. Under the Renewable Purchase Obligation (RPO), discoms are required to source a fixed percentage of their total power purchase from renewable energy sources. "Tata Power Delhi Distribution Ltd has fulfilled the RPO for the third consecutive year, a unique feat for any discom in the country," a company statement said. The company, which supplies electricity to 70 lakh people in north and northwest Delhi, sourced 2,600 million units of green power in 2022-23 from various sources of renewable energy, including solar, wind, and hydro, it said. Renewable power constituted more than 26 per cent of the total units sold by the company to its consumers, it added. The RPO percentage varies from state to state and is fixed by the respective electricity regulatory commission. For the national .

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Stocks to watch on August 10, 2023: Shares of rate sensitive sectors, such as auto, banks and real-estate will be in focus on Thursday as RBI announces its policy decision.

On course to develop round-the-clock renewable power: Tata Power CEO & MD

The company's consolidated revenue for Q1FY24 was Rs 15,003 crore, reflecting a minimal increase of 2 per cent

Tata Power Q1 net profit rises 29% to Rs 1,141 cr on higher revenues

Tata Power on Wednesday posted an over 29 per cent rise in consolidated net profit at Rs 1,140.97 crore in the June quarter on the back of higher revenues. The company had reported a net profit of Rs 883.54 crore in the year-ago quarter, according to a BSE filing. Total income rose to Rs 15,484.71 crore in the quarter under review from Rs 14,638.78 crore a year ago. "We have delivered a 15th consecutive quarter of PAT (Profit After Tax) growth on the back of strong performance across all business clusters. "This is the result of our effective strategies, operational efficiencies, and execution excellence driven by our committed workforce," Praveer Sinha, CEO & MD of Tata Power, said in a statement. Further, he stated that we have planned nearly Rs 12,000 crore of capex for the current financial year which would help us lead the green energy transition and in the growth opportunities in the transmission and distribution business. "Tata Power is well poised to develop ...

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Stocks to watch on August 09, 2023: Shares of Adani Enterprises and Adani Wilmar are likely to be in focus on Wednesday amid reports of stake sale in the latter company.

Tata Power to invest Rs 13,000 cr in Maha for pumped hydro storage projects

Tata Power on Tuesday announced a Rs 13,000 crore investment for setting up two pumped hydro storage projects (PSPs) in Maharashtra. Without sharing a timeline for the investment, the company said the two projects will have a combined capacity of 2,800 MW. Explaining what is a PSP, a company statement said water will be pumped from a lower reservoir to a higher reservoir during times of excess energy, and the same water will be used to power turbines located lower down to generate electricity during peak demand. The two PSPs will be set up at Shirawta, Pune (1,800 MW) and Bhivpuri, Raigad (1,000 MW) and generate employment for 6,000 people. The company has been operating hydel projects in the state for over a century, having a presence in Khopoli, Bhira and Bhivpuri. Bhira includes a 150 MW PSP capacity. A memorandum of understanding (MoU) was signed between the government of Maharashtra and the company on Tuesday in the presence of the state's deputy chief minister Devendra ...

Tata Power surges 10% in 3 days on positive outlook; stock nears 52-wk high

The base and peak demand is expected to maintain growth at above long-term trajectory during FY24 driven by higher industrial and commercial activities, digitalization and electric transportation.

Tata Power launches RFID-enabled cards to support its EV charging ecosystem

Tata Power on Monday launched a radio-frequency identification card, which, it said, will help accelerate the adoption of electric vehicles in the country. With the launch of the card, Tata Power aims to leverage its electric vehicle (EV) charging infrastructure, which includes over 40,000 home chargers, more than 4,000 public and semi-public charging points, and 250 bus-charging points across the country, the company said in a statement. The radio-frequency identification (RFID) card was launched by Praveer Sinha, chief executive officer and managing director (MD), Tata Power, along with Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. The card offers convenience with its tap, charge, and go functionality, the statement said. The card features a built-in chip that enables efficient, secure, and seamless initiation of charging sessions and payments, it said.

TPDDL clocks highest peak power demand of 2,182 MW this season so far

Amid humid weather, power discom TPDDL clocked its highest peak demand of power in this season so far on Tuesday afternoon, the company said. Tata Power Delhi Distribution Limited (TPDDL), which has a customer base of 1.9 million in North Delhi, successfully met the demand of 2,182 MW, said a company spokesperson. "This has successfully demonstrated that our customers' increasing energy needs were taken care of without any network limitations or power disruptions," he added. According to State Load Dispatch Centre, Delhi's peak power demand was 7,279 MW at 3 PM. The peak demand in the TPDDL distribution area was 2,163 MW last Friday, when Delhi registered its highest peak demand of the year at 7,398 MW.

Tata Power 750,000 Mumbai customers to pay lower tarrif after APLTEL order

Tata Power on Friday said its 7.5 lakh consumers in Mumbai to get substantial tariff reduction after an order by Appellate Tribunal for Electricity (APTEL), staying hike by state regulator MERC. "The APTEL today passed an order granting interim relief sought by Tata Power by staying the Maharashtra State Electricity Regulatory Commission's (MERC) revised tariff schedule on MTR (multiple tariff revision) frameworks approved by the Hon'ble Maharashtra Electricity Regulatory Commission (MERC)," a company statement said. In the interim period, the tariff proposed by the company to MERC on March 31, 2020, becomes applicable once again, it added. This tariff is 25-35 per cent lower than the existing one and will be for the benefit of the consumers, according to the company. The consumer of Tata Power will benefit from this order. It also vindicates the stand of Tata Power that it can offer cheaper electricity to Mumbaikars, it stated. Customers of Tata Power in Mumbai will get the bene

Jamna Auto, Tata Power flash bullish breakout signals on charts

Tata Power is witnessing some aggressive buying traction. The stock is poised to re-test its peak in the coming months