Tata Power hits 52-week high as arm signs agreement with Chalet Hotels

The company’s subsidiary Tata Power Renewable Energy Limited signed the power delivery agreement of group captive project for 6 MW AC

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Tata Power Company share price rose a percent to touch 52-week high of Rs 258.45 in the early trade on September 4 after the company signed an agreement for a 6 MW AC project with Chalet Hotels.

The company’s subsidiary Tata Power Renewable Energy Limited (TPREL) signed a power delivery agreement (PDA) for a captive project for 6 MW AC with Chalet Hotels.

The plant will generate 13.75 million units of clean energy from renewable sources under this arrangement.

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Projects win in August

TPREL signed a group PDA for a 4.4-MW AC with global automotive systems and parts industry leader ANAND Group.

As per the deal, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources. The company said it expects the project to eliminate roughly 5,500 tonnes of carbon emissions annually, in line with its mission to ensure a greener and cleaner future for the company’s Commercial and Industrial (C&I) customers.

The subsidiary also signed a power purchase agreement for 9MWp on-campus solar plant with Tata Motors Limited Pantnagar plant in Uttarakhand.

The project will be commissioned within six months and will utilise both rooftop and ground-mounted units for installation.

Tata Power Delhi Distribution Ltd (Tata Power-DDL) has received a three-year extension till 2026 from the Department of Scientific and Industrial Research (DSIR) for its in-house R&D unit.

Tata Power Delhi Distribution Ltd is a joint venture between Tata Power and the government of NCT of Delhi. While DSIR is a part of Ministry of Science and Technology, the Government of India.