6,788 MW projects: This power company receives an order to set up a 200 MW solar project!

The stock gave multibagger returns of 105 per cent in just 2 years and over 630 per cent in just 3 years.

TP Saurya Limited (TPSL), a subsidiary of Tata Power Renewable Energy Limited (TPREL), one of the country’s most significant renewable energy players, signed a Power Purchase Agreement (PPA) with Tata Power Trading Company Limited (TPTCL), to set up a 200MW (280MWp) solar project at Bikaner in Rajasthan.   

The plant will be commissioned by March 2024. TPTCL has entered into a PPA with TPSL for a duration of 25 years. The project will be connected to the Central Transmission Utility (CTU) Bus and will supply 485 million units of energy annually.   

With this win, the total renewables capacity of TPREL reaches 6,788 MW with an installed capacity of 3,917 MW (Solar - 2,989 MW & Wind - 928 MW) and 2,871 MW under various stages of implementation.  

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Tata Power Solar Systems Limited (TPSSL) is India's largest specialized EPC player and one of the world's pioneering solar manufacturers. Tata Power Renewable Energy Limited ("TPREL") is a wholly-owned subsidiary of Tata Power Company Limited and one of the country's largest renewable energy players.  

On Wednesday, shares of Tata Power zoomed 0.39 per cent to Rs 207.05 per share with the day’s high of Rs 207.70 and the day’s low of Rs 206.20. The stock has a PE of 15x and an ROE of 41.22 per cent.  

The stock gave multibagger returns of 105 per cent in just 2 years and over 630 per cent in just 3 years. This large-cap power stock should be kept under the radar.