Rs 17,643 crore order book: This multibagger power company signs PDA with Endurance Technologies Limited for setting up a 12.5 MW captive solar plant!
The stock gave multibagger returns of 370 per cent in just 3 years whereas BSE Sensex Index is up by 66 per cent.
Tata Power Renewable Energy Limited (TPREL), a leading renewable energy player and a subsidiary of The Tata Power Company Limited, has signed a Power Delivery Agreement (PDA) with Endurance Technologies Limited, a leading auto component manufacturer, through a special purpose vehicle (SPV) TP Green Nature Limited, for the development of 12.5MW AC Captive Solar Plant.
The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year. This will help in reducing Endurance Technologies' carbon footprints and mitigate approximately 9,125 metric tons (MT) of carbon emissions annually. The project is expected to be completed within 12 months of the signing of the PDA.
With this proposed captive solar power plant, the overall renewable energy portfolio of TPREL reaches a total capacity of 7,889 MW. This includes 3,701 MW of projects in various stages of implementation, underscoring TPREL's commitment to expanding its clean energy footprint. The company's operational capacity currently stands at 4,188 MW comprising 3,185 MW of solar and 1,003 MW of wind energy.
On Tuesday, shares of Tata Power Company Limited surged 0.78 per cent to Rs 256.85 per share with an intraday high of Rs 259.35 and an intraday low of Rs 2556.10. The stock gave multibagger returns of 370 per cent in just 3 years whereas BSE Sensex Index is up by 66 per cent.
Order Book Updates: The company order book as of June 30, 2023, stands at Rs 17,643 crore and the total capacity as of June 30, 2023, stands at 4,199 MW. The Rooftop Solar and Group Captive Order Book stands at Rs 2,504 crore.
Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. Investors should keep an eye on this Large-Cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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