TP Saurya Limited (TPSL), a wholly owned subsidiary of Tata Power, received the 'Letter of Award' (LoA) from Solar Energy Corporation of India (SECI) for setting up a 600 MW hybrid (wind and solar) power project in Karnataka. The letter was awarded through tariff-based competitive bidding followed by an e-Reverse auction. The project will be commissioned within 24 months from the PPA execution date.
Speaking on the project win, Dr. Praveer Sinha, CEO & MD Tata Power, said "We are enthused with the win of 600MW hybrid project for SECI as it reaffirms Tata Power's commitment to building a sustainable ecosystem for transitioning towards a greener future. Renewable hybrid projects are a game changer in India as they can generate round-the-clock power with high reliability levels to help meet country's decarbonisation goals."
With this win, the total renewables capacity of Tata Power reaches 5,524 MW, with an installed capacity of 3,634 MW and 1,890 MW under various stages of implementation.
Shares of Tata Power Company Limited was last trading in BSE at Rs. 220.85 as compared to the previous close of Rs. 221.45. The total number of shares traded during the day was 652656 in over 7717 trades.
The stock hit an intraday high of Rs. 223.30 and intraday low of 219.95. The net turnover during the day was Rs. 144558159.00.