Tata Power gains after green energy arm bags NTPC contract for Rajasthan project

TPSSL’s Solar Cell and Module Manufacturing plant in Bengaluru will supply 152 MWp DCR Solar PV Modules for this project.

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The Tata Power Company shares were up nearly 1 percent at Rs 335.70 in the opening trade on December 18 after a subsidiary company signed a contract with NTPC.

“Tata Power Solar Systems Limited (TPSSL), a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has signed a contract to supply 152 MWp DCR Solar PV Modules for NTPC Nokh Solar PV Project in Rajasthan,” Tata Power said in a release.

TPREL is a subsidiary of Tata Power and the project value approximately Rs 418 crore.

NTPC is developing 3×245 MW (735 MW) Nokh Solar Park at Pokhran, Jaisalmer. The entire project will utilise DCR category Bi-Facial Mono-PERC modules.

The solar panels, including the solar cells and modules, of these DCR Solar PV modules, are being manufactured in India in adherence to the Domestic Content Requirement policy, Tata Power added.

TPSSL’s Solar Cell and Module Manufacturing plant in Bengaluru will supply 152 MWp DCR Solar PV Modules for this project.

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On December 13, Tata Power Renewable Energy inked an agreement with Dr. Abhay Firodia Group of Companies – Force Motors Ltd and Jaya Hind Industries Pvt Ltd – to develop a 13.2-MW group captive solar plant.

Broking House in its December 13 report maintained a ‘buy’ call on the stock with a revised price target of Rs 390.

On December 11, Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power Group company and Indian Oil Corporation (IOCL) signed an agreement to roll out more than 500 fast and ultra-fast electric vehicle (EV) charging points across India.