Rs 17,643 crore order book: This multibagger power company to set up 41 MW captive solar plant for its upcoming 4.3 GW solar project in Tamil Nadu!

The stock gave multibagger returns of 380 per cent in just 3 years whereas BSE Sensex Index is up by 73 per cent.

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar Limited (TP Solar) new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli, Tamil Nadu. The captive plant will help generate 101 million units of electricity and offset around 72,000 metric tons of CO2 emissions annually.

The captive solar project will be commissioned 12 months after the signing of the Project Development Agreement (PDA). TPREL has established TP Govardhan Creatives Limited, a specialized entity entrusted with the development, operation, and upkeep of this facility for TP Solar. TP Solar’s manufacturing plant is expected to start commercial production of cells and modules by FY 24-25. TP Solar is a subsidiary of TPREL.

With this new captive solar plant, TPREL’s total capacity will expand to 7,877 MW including 3,720 MW of projects at different stages of implementation, and an operational capacity of 4,157 MW, comprising 3,154 MW of solar energy and 1,003 MW of wind energy.

On Thursday, shares of TPL surged 0.58 per cent to Rs 258.15 per share with an intraday high of Rs 264.15 and an intraday low of Rs 257.40. The stock gave multibagger returns of 385 per cent in just 3 years whereas BSE Sensex Index is up by 73 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.