Rs 596,00,00,000 Order: TATA-Group Solar & Wind Power Company Commissions One of India's Largest Floating Solar Projects of 126 MW in Omkareshwar, Madhya Pradesh
The stock is up by 60 per cent from its 52-week low of Rs 256.95 per share and gave multibagger returns of over 640 per cent in 5 years.
Tata Power Renewable Energy Limited (TPREL), a prominent player in India’s renewable energy sector and a subsidiary of The Tata Power Company Limited, announces the successful commissioning of the Omkareshwar Floating Solar Project. With an impressive capacity of 126 MW, this project stands as one of India’s largest floating solar installations, marking a significant milestone in the country's renewable energy journey. The EPC contract worth Rs 596 crore was awarded by NHDC Limited to TPREL.
Located in the Khandwa district of Madhya Pradesh, the Omkareshwar Floating Solar Project supplies sustainable power to the Madhya Pradesh Power Transmission Company Limited (MPPTCL). Uniquely positioned between the Indirasagar and Omkareshwar hydroelectric reservoirs, this innovative project has navigated complex environmental and logistical challenges—such as fluctuating water levels, high winds, and limited site access— reaching successful completion within just 26 months.
The project features 213,460 bifacial glass-to-glass modules, generating 204,580 MWh of energy annually while offsetting 1,73,893 tonnes of CO₂ emissions each year. To ensure stability and operational efficiency, the installation incorporates cutting-edge engineering solutions such as robust mooring systems, wave breakers, ballast anchors, and adaptive cableways. Additionally, it hosts the world’s largest inverter floating platform, covering 260 hectares of water body area —a new global benchmark in floating solar technology. Beyond carbon reduction, the project conserves an estimated 32.5 million cubic meters of water annually by minimizing reservoir evaporation.
The Omkareshwar Floating Solar Project is a blueprint for future installations throughout the world and establishes an international standard for floating solar technology. It illustrates how technical innovation can overcome environmental obstacles and have a lasting impact on India’s journey toward renewable energy leadership. With this achievement, TPREL’s total renewable energy capacity now stands at 10.9 GW with 5.6 GW of projects in various stages of implementation. Its operational capacity has reached 5.3GW, comprising 4.3 GW of solar and 1 GW of wind energy projects.
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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, favorable 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 Rs 1.29 lakh crore. The stock is up by 60 per cent from its 52-week low of Rs 256.95 per share and gave multibagger returns of over 640 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.