Tata Power gets 700 MW approval from MERC

Countries largest integrated power company Tata Power informed that it has got an approval from MERC for distribution and generation of 700 MW power.

Maharashtra Electricity Regulatory Commission (MERC) has allowed the distribution business of Tata Power, India’s largest power utility to have a Power Purchase Arrangement (PPA) with its generation arm for 700 MW to be supplied from its Trombay Thermal and Hydro plants for a period of five years from April 1, 2019 to March 31, 2024.

Earlier in the month of January 2019, the company signed Power Purchase Agreement (PPA) of Tata Power with BEST for 677 MW. The process of power tie-up was undertaken by the distribution business for its consumers for the period of five years starting April 1, 2019. The existing power tie-up was scheduled to expire on March 31, 2019.

Tata Power is India’s one leading power generation company with a total installed capacity of 10,757 MW. With renewable energy assets in solar and wind accounting for 30 per cent of the company's portfolio, Tata Power is a leader in clean energy generation.

On Wednesday, the stock of Tata Power closed at Rs. 71.30 per share, up by 0.10 per cent on BSE. Benchmark index BSE Sensex closed at 38132.88, down by 100 points.