Rs 15885 crore order book: This multibagger power generation company bags PDA worth Rs 105 crore to set up 18.75 MW AC group captive solar plant!
The stock gave multibagger returns of over 300 per cent in just 3 years whereas BSE Sensex Index is up by 39 per cent.
Tata Power Renewable Energy Limited (TPREL), one of India's largest integrated power companies and a subsidiary of Tata Power Ltd, has signed a power delivery agreement with Tata Communications Limited (Tata Communications), a leading communications technology (comm tech) player, for an 18.75 MW AC group captive solar power plant.
The project facilitated through a special purpose vehicle (SPV) — Nivade Windfarm Limited — has acquired an estimated order value of Rs 105 crore. Located in Aachegaon, Maharashtra, the plant is projected to generate approximately 40 MUs of power while offsetting more than 30,000 tons of CO2 emissions annually.
By incorporating renewable energy sources in its energy consumption mix, Tata Communications reaffirms its commitment to environmental responsibility and adopting eco-friendly energy alternatives. While the decision to ‘go green’ demonstrates the feasibility and immense benefits of sustainable energy practices, it also reflects the broader efforts within the sector to reduce environmental impact and champion a more sustainable and responsible business ecosystem.
TPREL is aggressively expanding its group captive projects, exceeding 1.5 GW capacity, to support India's net-zero goal and provide tailored renewable solutions across diverse industries like steel, mining, and hospitality. This achievement stems from securing Power Purchase Agreements, pushing their total renewables capacity to 9,015 MW (including 4,744 MW under development) and an operational capacity of 4,271 MW (3,244 MW solar, 1,027 MW wind). This positions TPREL as a key player in India's clean energy transition.
Tata Power is gearing up for a monumental four-year capex blitz of Rs 60,000 crore, strategically targeting diverse energy sectors to fuel its growth and meet soaring electricity needs. Nearly half, a whopping Rs 27,000 crore, will be poured into renewable energy projects, showcasing the company's unwavering commitment to clean energy and a sustainable future.
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Additionally, a flexible Rs 12,000 crore capex allocation hinges on potential wins in transmission and distribution circles. With a robust order book of Rs 15,885 crore and a total capacity of 3,612 MW (as of December 31, 2023), Tata Power is poised for an electrifying future. Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. The company has a market cap of over Rs 1.2 lakh crore.
Today, shares of Tata Power Ltd plunged 0.18 per cent to Rs 378.1 per share with an intraday high of Rs 383.55 and an intraday low of Rs 376.40. The stock gave multibagger returns of over 300 per cent in just 3 years whereas BSE Sensex Index is up by 39 per cent. Investors should keep an eye on this Large-Cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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