Do you own this power stock that got approval for a 150 MW solar project?

This company receives ‘Letter of Award’ to set up a 150 MW Solar project in Maharashtra

One of the leading top 20 companies in the power sector, Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power received approval from the Maharashtra State Electricity Distribution Corporation Limited (MSEDCL) to set up a 150MW solar project in Solapur, Maharashtra. Within 18 months after the execution date, the project will be commissioned.  

This project approval is to create a sustainable ecosystem for transitioning towards a greener future and affirms their potential to deliver world-class solar projects. The total renewable resources of TPREL will finally reach a milestone of 5,786 MW, with an installed capacity of 3,877 MW (Solar - 2,949 MW & Wind - 928 MW) and the rest is under different stages of implementation.  

TPREL is Tata Power's primary investment vehicle for clean and renewable energy-based power generation capacity. Tata Power is India's largest integrated power utility with a rich leadership legacy in the Indian power sector. TPREL develops, constructs, and operates wind and solar power assets. Tata Power Company Ltd is primarily involved in the business of the generation, transmission, and distribution of electricity.  

Today BSE Power Sector opened with a decline of 0.36 per cent or 17.52 points to Rs 4,874.20. Tata Power Ltd stock’s 52-week high was around Rs 298 and the 52-week low was around Rs 190. There was a 0.32 per cent gain in today’s market to Rs 232.10, taking the market to the upper circuit.  

Investors should keep a close eye on this stock.