Tata Power ups the renewable energy game; commissions 100 MW Solar PV Projects in Uttar Pradesh

The plants are expected to generate more than 221.26 million units annually, the company informed on Monday.

Tata Power through its wholly-owned subsidiary Tata Power Renewable Energy Limited (TPREL), commissioned two Solar Power projects of 50 MW each at Prayagraj and Banda in Uttar Pradesh. 

According to the company, 1,59,600 modules and 1,67,440 modules were used in Prayagraj and Banda projects, respectively. With the installed capacity, carbon emission is expected to be reduced by 1,77,037 lakh tons annually. 

Power Purchase Agreement (PPA) has already been signed between TPREL and Uttar Pradesh Power Corporation Limited, (UPPCL), Lucknow for these two projects. 

Speaking on the achievement, Dr Praveer Sinha, CEO and MD, Tata Power said, “The commissioning of Solar PV Projects in Uttar Pradesh's Prayagraj and Banda has strengthened our position as a leading renewable energy company, and we will continue to contribute to the country's sustainable energy growth." 

With the addition of 100 MW, the renewables capacity in operation for Tata Power will be 3055 MW with 2123MW of Solar and 932MW of wind. Tata Power total renewable capacity is 4909 MW with another 1854MW of renewable projects under various stages of implementation. 

Tata Power, India’s largest integrated Power Company has a dream run at the bourses in 2021 wherein it logged a sharp rally of 192%. In the last six months, it has rallied almost 100% outperforming the benchmark index BSE Sensex as well as BSE Power index which gained 15.37% and 43.33%, respectively in six months. 

In one week the stock has gained 7.61% and is currently trading at Rs 239.90 per share with a loss of 3.21% at 3.00 pm, largely in line with the weak market sentiment today.