Tata Power shares gain after subsidiary gets 200-MW project contract

Tata Power Renewable Energy Limited (TPREL), a subsidiary of the company, has received a LOA for developing a 200 MW firm and dispatchable renewable energy (FDRE) project with SJVN.

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The share price of Tata Power Company gained a percent in early trade on November 29, a day after the company’s subsidiary was awarded the contract for a 200-MW project.

At 9:20am, The Tata Power Company was quoting at Rs 273.45, up Rs 2.70, or 1.00 percent, on the BSE.

Tata Power Renewable Energy Limited (TPREL), a subsidiary of the company, has been awarded the job of developing a 200 MW firm and dispatchable renewable energy (FDRE) project with SJVN. The plant has been meticulously sized with a hybrid combination of solar, wind, and battery storage of appropriate capacities, the company said.

FDRE provides round-the-clock power supply and supports the discoms in meeting Renewable Purchase Obligation (RPO) and Energy Storage Obligation (ESO).

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This is the first FDRE power tender won by TPREL, which includes a greenshoe option, allowing for additional capacity beyond the initial 200 MW. The project is expected to be commissioned within 24 months from the PPA execution date.

With this win, the total renewables capacity of TPREL reaches 8,314 MW, which comprises 4,100 MW of projects in different phases of development and with an operating capacity of 4,214 MW, including 3,200 MW in solar projects and 1,014 MW in wind projects.