The company aims to scale up its renewable energy portfolio from current 4GW to 15GW by 2025 and 25GW by 2030 thereby achieving 80 per cent clean generation capacity, up from the current 31 per cent
Shares of Tata Power Company continued to climb higher, hitting a new high at Rs 165 after 13 years, up 4 per cent on the BSE in Friday’s intra-day trade, on improved outlook. The stock of Tata Group electric utilities company was trading higher for the fourth straight day and has rallied 19 per cent during the period. The previous record high was Rs 158 recorded on January 4, 2008.
In the process, Tata Power’s market capitalisation (market-cap) has crossed Rs 50,000 crore mark. At 02:40 pm; Tata Power was trading 3.5 per cent higher at Rs 164.35, with a market-cap of Rs 52,515.41 crore on the BSE, the exchange data shows.
Tata Power is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 13,061 MW. The company has presence across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and trading.
Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and micro grids, storage solutions, electric vehicle (EV) charging infrastructure, energy service company (ESCO), home automation & smart meters.
Last month, Tata Power Solar Systems (Tata Power Solar), India’s largest solar energy company, and Tata Power’s wholly-owned subsidiary had received a “Notice of Award” (NoA) to build 50MWp Solar PV Plant with 50MWh Battery Energy Storage System (BESS) project at Phyang village in Leh, Ladakh. The order value of the project was Rs 386 crore. The commercial operation date for this project is set for March 2023.
While, Tata Power Renewable Energy (TPREL), a wholly owned subsidiary of Tata Power has successfully commissioned 100 MW Solar Power project at Raghanesda Solar Park, Gujarat and in village Loharki, Rajasthan, the company had said in a press release.
Tata Power’s management said the company aims to scale up our renewable portfolio from the current 4GW to 15GW by 2025 and to 25GW by 2030 thereby achieving 80 per cent clean generation capacity, up from the current 31 per cent. “We will continue to expand and promote the mass adoption of rooftop solar & solar pumps, microgrids, home automation and focus on developing the EV charging infrastructure in the country”, Dr. Praveer Sinha, CEO & Managing Director, Tata Power had said while announcing June quarter (Q1) results on August 6, 2021.
Tata Power’s transition into the green segment is gaining strong momentum with nearly 40 per cent /10 per cent market share enjoyed by its EV charging/solar EPC segments. Its solar pump/ solar rooftop business witnessed 8x/4x growth during Q1FY22 with the highest-ever order book of Rs 1,100 crore across solar pumps. Also, with the de-licensing drive across the UTs and selective states, the opportunity across the discom privatisation space is getting mammoth, analyst at HDFC Securities had said in June quarter result update.
Source : business-standard
