Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

BEE assigns Grade 1 ESCO accreditation to Tata Power

Posted On: 2019-06-12 15:40:44

Bureau of Energy Efficiency BEE has assigned Grade 1 ESCO grading rating to Tata Power in recognition of their ESCO (Energy Service Company) business performance. BEE an autonomous body constituted under the Ministry of Power, is responsible for driving policies and strategies for the overall reduction the energy intensity of the India economy. A Grade 1 rating for energy audit and energy efficiency project implementation business, indicates a 'Very High' ability to implement energy saving measures for customers. There this accreditation formally recognizes Tata Power's ability to conduct detail energy audits and implement projects to improve energy efficiency for all types of energy-intensive businesses that in turn translates into improved financials, productivity and reduced carbon footprint for its customers.

This year, BEE have given various levels of accreditation to 25 agencies, out of which only Tata Power has been assigned Grade 1 ESCO rating. There are only 13 Grade 1 accredited agencies in India and Tata Power is the only utility company to feature with this ranking.

On behalf of BEE, ICRA one of India's leading rating agencies, has undertaken this assessment and credits Tata Power's diversified and reputed client-base across various sectors coupled with an established track record in the power and energy management sector as the drivers for the company's ESCO business ratings. It also believes that the company's excellent project management performance in the energy efficiency/management industry along with its strong inhouse research and development team for innovative energy efficiency technologies are other important parameters to facilitate this rating.

Tata Power has been performing energy efficiency project activities for more than a decade through the installation of various waste heat recovery projects for power and steam generation. It has also been working on the energy efficiency of power plants both in the conventional and nonconventional sector. It has been an ESCO since the past nine years though it has always been instrumental in providing these services to its commercial and industrial customers in Mumbai and Delhi where Tata Power is responsible for the distribution of electricity.

Mr. Praveer Sinha, CEO & Managing Director, Tata Power, said, "Efficient energy consumption is a critical part of every business entity. ICRA's high rating of ICRA-BEE Grade 1 for our ESCO vertical is a testimony of the robustness of our offering and its ability to take on challenging energy saving projects to add value to our customers. In today's business environment this is not only crucial for better financials but also helps businesses in lowering their carbon footprint thereby achieving their sustainability objectives."

Tata Power's ESCO projects in the pipeline include replacement of existing streetlight points with LED and maintenance of the same for North Delhi Municipal Corporation, Ludhiana Municipal Corporation and Nashik smart street lighting project.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.66.3 as compared to the previous close of Rs. 66.35. The total number of shares traded during the day was 510430 in over 1467 trades.

The stock hit an intraday high of Rs. 67.2 and intraday low of 66. The net turnover during the day was Rs. 33905476.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Pricol Ltd to hive off overseas subsidiaries

Glenmark Pharmaceuticals receives tentative ANDA approval for Clindamycin Phosphate Foam, 1%

PNB board approves raising Rs. 1500 crore through Basel III compliant Tier II bonds

BEML donates for cyclone 'Fani' relief work, Odisha

TAAL Enterprises Ltd calls for board meeting on June 24, 2019

Newgen Makes its OmniFlow iBPS Platform More Intelligent with Process Insights

HDFC Limited to acquire Apollo Hospitals Group's shares in Apollo Munich and to merge with HDFC ERGO

TCS Retains Position as America's Most Community-Minded Information Technology Company

Bombay Cycle & Motor Agency Ltd Board to consider Bonus Issue on June 22, 2019

IndusInd Bank Ltd announces record date for issue of shares to BFIL shareholders

Brickwork reaffirms rating of Parsvnath Rail Land Project Pvt Ltd

Adani Green Energy Ltd arm receives LOAs for 600 MW hybrid projects

TCS Named 2018 Top Supplier of the year by QIAGEN

International Paper APPM Ltd announces annual outage from July 29, 2019 to Aug 28, 2019

Rajesh Exports bags new export order worth Rs. 942 crores from Germany, Europe

Indostar Capital Finance Limited and ICICI Bank Limited partner to finance Commercial Vehicles

BHEL successfully commissions Chhukha Unit-1 in Bhutan

Asian Oilfield Services receives orders of $37 mn

GAIL India Ltd fixes July 10, 2019 as record date for bonus issue

Blue Star Ltd receives single largest order from Mumbai Metro

Jubilant FoodWorks Ltd announces change in directorate

L&T Construction awarded contract for water supply and distribution in Sri Lanka

Polyplex Corporation Ltd's subsidiary to set up 60000 TPA BOPP film line project

JV Partners announce Final Investment Decision for initial two LNG train Project Development

Mahindra announces price increase for personal range of vehicles from July 1, 2019

Lawreshwar Polymers Ltd proposes name change

Thomas Cook India releases its Summer Report 2019

Asian Granito India Ltd inaugurates its largest - 25,000 sq feet tiles and Sanitaryware display showroom in Himmatnagar

ONGC Videsh Ltd, JV partners announce Final Investment Decision for initial two LNG train Project Development

Inspirisys Solutions Ltd to allot 56,25,000 shares to CAC Holdings Corporation at Rs. 54.30

HCL Technologies selected by Cricket Australia as Digital Technology Partner

Cognizant to acquire Zenith Technologies, a Leader in Life Sciences Manufacturing Technology Services

IndiGo awarded 'Best Low-Cost Airline in Central Asia/India' by Skytrax tenth year in a row

Chambal Fertilisers and Chemicals Limited updates on credit rating of Commercial Paper

NLC India Ltd commissions 100 MW solar PV power plant

RMG Alloy Steel Limited board approves issue of securities

Dabur India Ltd board to consider Q1 results on July 19, 2019

Sportking India Ltd updates on credit rating

Sundaram Multi Pap Ltd receives BB+ rating from Brickwork

Canara Bank to initiate process to sell stake in Can Fin Homes Ltd

Coromandel Engineering Company Limited to issue CNPRPS on private placement basis

Wintac Ltd board to re-initiate delisting process proposed by Veego Pharma LLC

Adlabs Entertainment Ltd announces resignation of Ms. Meghna Ghai Puri

TCS Named a Leader in Next-Gen Testing Services by NelsonHall

Trent Ltd to raise Rs. 950 crores from Tata Sons Pvt Ltd

Canara Bank to raise Rs. 6000 crores through equity issue

Infosys recognized as winner for 2019 Microsoft Global Alliance SI Partner of the Year

HCL Technologies celebrates 20 years of Innovation in Australia and New Zealand

WABAG secures One City One Operator contracts in Uttar Pradesh worth INR 1,477 Crore

Hexaware Ranks No. 1 Among the Top Service Providers in Overall Customer Satisfaction in Whitelane's IT Sourcing Study







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019