14,381 MW capacity and Rs 18,700 crore order book: This multibagger power stock to develop 2,800 MW Pumped Storage Hydro plant with Rs 12,550 crore capex!
The company has delivered multibagger returns of over 280 per cent in the last three years.
Tata Power Company Limited has announced the development of two Pumped Storage Hydro (PSP) plants with a combined capacity of 2,800 MW in the Pune district. Both projects are brownfield and are expected to start by mid-2024 and be completed by 2028. The company has an additional PSP potential of 9 GW capacity at its 5 other reservoirs.
The company is also expected to make a capital investment of Rs 60,000 crore by 2027, with 45 per cent deployment in the renewable energy sector. The company is also expected to double its revenue, EBITDA, and PAT by FY27. The company's clean and green capacity is expected to account for 70 per cent of overall capacity in 2030.
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Recently, Tata Power Renewable Energy Limited (TPREL) has also secured a Letter of Award (LOA) to develop a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN). The project will utilize a hybrid combination of solar, wind, and battery storage to provide reliable and sustainable energy.
This is the first FDRE power tender won by TPREL, and it marks a significant milestone in the company's journey to expand its portfolio and contribute to the nation's sustainable energy goals. The project is expected to be commissioned within 24 months from the PPA execution date and will offset 9 lakh metric tonnes of CO2 emissions annually. With this win, the total renewables capacity of TPREL reached 8,314 MW.
Tata Power Company Limited is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources with 14,381 MW capacity. The company has also delivered multibagger returns of over 280 per cent in the last three years. It also has an order book of Rs 18,700 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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