This multibagger company signs Power Purchase Agreements with MSEDCL for 200 MW and 150 MW Solar Projects!
The 200 MW solar project from phase 9 tender is expected to produce 536 million units of power, while the 150 MW solar project from phase 7 tender will generate 389 million units of power.
Tata Power, a top Indian integrated power company, and its subsidiaries hold a total capacity of 14,302 MW. They excel in renewable and conventional power generation, transmission & distribution, and trading. With 38 per cent of their portfolio focused on clean energy, they are pioneers in solar, wind, hydro, and waste heat recovery generation.
Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed major Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for two solar power projects in Maharashtra, with capacities of 200 MW and 150 MW. These projects will play a vital role in achieving the state's renewable energy goals and combatting climate change. The solar installations are expected to be operational by mid-2025, contributing to an annual reduction of over 7,40,000 tons of CO2 emissions.
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TPREL has secured a 930 MW agreement with MSEDCL and plans to complete the remaining capacity in the coming 12-18 months. Their total renewable capacity is 7,783 MW, with 4,118 MW already operational and 3,665 MW in different stages of development. The 200 MW solar project from phase 9 tender is expected to produce 536 million units of power, while the 150 MW solar project from phase 7 tender will generate 389 million units of power.
The company has delivered stellar returns of 371 per cent over the past 3 years and significant returns of 223 per cent over the past 5 years. Additionally, the company has a ROCE of 12.4 per cent and a ROE of 12.6 per cent.
On Thursday, shares of the company plunged by 0.13 per cent and traded at Rs 235.45.
Investors should keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.