Rs 15,900 crore order book: TATA-Group Solar & Wind Power Company Commissions 431 MW DC Solar in Neemuch, Madhya Pradesh

The stock is up by 55.6 per cent from its 52-week low of Rs 256.95 per share and gave multibagger returns of 675 per cent in 5 years.

Tata Power Renewable Energy Limited (TPREL), a prominent player in India’s renewable energy sector and a subsidiary of Tata Power Company Ltd, has successfully commissioned the 431 MW DC solar project at Neemuch in Madhya Pradesh. Perceived to be one of India’s most cost-effective bids for large-scale solar energy production, the project was won through a competitive bidding process.

Spanning across 1,635.63 acres, the project is India’s first solar project site to incorporate cutting-edge technology, featuring a unique combination of single-axis trackers and bi-facial modules, thereby, setting a new benchmark for solar energy generation in India. This innovative integration has boosted the efficiency of the entire system by over 15 per cent, enabling peak power supply for extended hours. The project is extremely innovative and was built by successfully overcoming several challenges, including rocky terrain, transmission line readiness, and remote site logistics.

The project contributes to sustainability with an estimated CO2 offset of 7,80,300 tons and meets the highest engineering standards, with simultaneous SCADA commissioning ensuring optimal performance. The system is CEA compliant, ensuring seamless operation of the Static Var Generator (SVG), and adheres to WRLDC compliance through the integration of harmonic filters. This project also ensures reliable power supply to Western Central Railways and Madhya Pradesh Power Management Company Limited, playing a crucial role in the region's energy infrastructure.

With this achievement, TPREL’s total renewable energy capacity now stands at 10.9 GW with 5.5 GW of projects in various stages of implementation. Its operational capacity has reached 5.4 GW, comprising 4.4 GW of solar and 1 GW of wind energy projects.

About Tata Power Company Ltd

Tata Power, a leading integrated power company under India's largest conglomerate Tata Group, boasts a diverse portfolio of 14,707 MW spanning the entire power spectrum. This includes the generation of both renewable and conventional energy, along with transmission, distribution, trading, storage solutions and even solar cell and module manufacturing. As champions for clean energy, they've committed to achieving carbon neutrality before 2045. Beyond generation, Tata Power has established India's most comprehensive clean energy platform, offering rooftop solar solutions, microgrids, storage solutions, EV charging stations and home automation systems.

Tata Power Company Ltd reported its 20th consecutive quarterly PAT growth. During the quarter that ended September 30, 2024, the Company reported its highest-ever PAT before exceptional items of Rs 1,533 crore, up 51 per cent YoY. Consolidated EBITDA during the quarter rose 23 per cent to Rs 3,808 Crore on the back of ramped-up solar manufacturing, favourable regulatory development in distribution and operational efficiency across businesses. For the H1FY25 period, the company clocked its highest-ever Revenue, EBITDA, and PAT before exceptional items at Rs 32,057 crore, Rs 7,158 crore, and Rs 2,721 Crore, respectively. Looking at its annual results, the net sales increased by 10 per cent to Rs 61,542 crore and net profit increased by 12 per cent to Rs 4,280 crore in FY24 compared to FY23.

With a robust order book of Rs 15,900 crore as of September 30, 2024, Tata Power is poised for an electrifying future. The company has a market cap of over Rs 1.30 lakh crore. The stock is up by 55.6 per cent from its 52-week low of Rs 256.95 per share and gave multibagger returns of 675 per cent in 5 years. Investors should keep an eye on this mid-cap power stock.

Disclaimer: The article is for informational purposes only and not investment advice.