Tata Power rises with its arm receiving LoA to develop 250 MW solar project in Gujarat

29 Jul 2019

Tata Power Company is currently trading at Rs. 62.40, up by 0.10 points or 0.16% from its previous closing of Rs. 62.30 on the BSE.

The scrip opened at Rs. 62.30 and has touched a high and low of Rs. 63.25 and Rs. 61.70 respectively. So far 173931 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 86.15 on 29-Oct-2018 and a 52 week low of Rs. 59.90 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 67.95 and Rs. 61.00 respectively. The current market cap of the company is Rs. 16904.83 crore.

The promoters holding in the company stood at 33.00%, while Institutions and Non-Institutions held 50.87% and 16.13% respectively.

Tata Power Company’s wholly owned subsidiary -- Tata Power Renewable Energy (TPREL) has received Letter of Award (LOA) from Gujarat Urja Vikas Nigam (GUVNL) on July 25, 2019 to develop a 250 MW solar project in Dholera Solar Park of Gujarat. This capacity is in addition to 100 MW awarded by GUVNL earlier at Raghanesda Solar Park in May'19.

The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The Company has won this capacity in a bid announced by GUVNL in January 2019. The project has to be commissioned within 15 months from the date of execution of the PPA.

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. 

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