Tata Power shares get boost from 200MW energy project

Tata Power Share Price: Tata Power shares started the trading session on BSE on Wednesday (November 29) on a higher note after its subsidiary received an order to develop a 200 MW FDRE project with SJVN Limited (SJVN). 

The stock was trading higher by 0.98 per cent, or Rs 2.65, at Rs 273.40 at 10:09 am on Wednesday. 

"Tata Power Renewable Energy Limited (TPREL), a subsidiary of the Company, one of the largest renewable energy players in India, has received a Letter of Award (LOA) for developing a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN), the company said in a BSE filing on Tuesday.

"The project is expected to be commissioned within 24 months from the PPA execution date. The project was awarded through competitive bidding, followed by a reverse eauction. The installation will offset ~9 lakh metric tonnes of CO2 emissions annually," said Tata Power.

To meet the 200 MW FDRE requirement, the plant has been meticulously sized with a hybrid combination of solar, wind, and battery storage of appropriate capacities, says the company.