Tata Group Led Renewable Energy Player Signs 200 MW PPA; Targets 1,300 MUs Generation And 1 Million Tons CO₂ Mitigation in 24 Months
The stock is down by 15 per cent in 1 year and has given multibagger returns of over 1,050 per cent in 5 years.
Tata Power Renewable Energy Limited (TPREL), one of the India’s leading renewable energy players and a subsidiary of The Tata Power Company Limited, has signed a Power Purchase Agreement (PPA) with NTPC Limited (NTPC), India's largest integrated power company to develop a 200 MW Firm and Dispatchable Renewable Energy (FDRE) Project.
The project, spread across multiple locations in India is set to be completed within 24 months and is expected to generate approximately 1,300 million units (MUs) of electricity annually, mitigating over 1 million tons of carbon dioxide emissions per year. The project was won by TPREL based on competitive bidding and would consist of Solar, Wind and BESS technologies. A key feature of this initiative is the commitment to a 4 hour peak power supply, ensuring at least 90 per cent availability during peak demand hours to support the growing energy needs of Distribution Companies.
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This collaboration reinforces TPREL’s position as a leader in India’s renewable energy sector with hybrid and complex renewable projects, consisting of Solar, Wind and battery storage. With a steadfast commitment to sustainability and innovation, the Company continues to drive forward India’s mission of a greener and more resilient clean energy future.
With this project, TPREL’s total renewable utility capacity has reached 10.9 GW. Currently, 5.5 GW of this capacity is operational, comprising 4.5 GW of solar and 1 GW of wind energy. Additionally, 5.4 GW is under various stages of implementation, evenly split between 2.7 GW of solar and 2.7 GW of wind projects. These ongoing projects are expected to be completed in phases over the next 6 to 24 months in a staggered manner.
The Tata Power Company Limited, a leading integrated power company and a part of the Tata Group, India's largest multinational business conglomerate, owns a diversified portfolio of 15.7 GW. This portfolio spans the entire power value chain, from renewable and conventional energy generation to transmission, distribution, trading, storage solutions, and solar cell and module manufacturing. As a pioneer in India's clean energy transition, Tata Power has 6.8 GW of clean energy generation, constituting 44% of its total capacity. Committed to achieving carbon neutrality before 2045, Tata Power has successfully partnered with public and private entities across India's generation, transmission, and distribution sectors, serving approximately 12.5 million customers nationwide. The stock is down by 15 per cent in 1 year and has given multibagger returns of over 1,050 per cent in 5 years.
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Disclaimer: The article is for informational purposes only and not investment advice.