Tata Power shares rose over 2% after its subsidiary, Tata Power Renewable Energy Limited (TPREL), signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to develop up to 7,000 MW (7 GW) of renewable energy projects across the state. The agreement was signed in Amaravati, marking a significant milestone in advancing Andhra Pradesh’s clean energy ambitions.
The projects will include solar, wind, and hybrid energy solutions, with or without storage, and involve an estimated investment of ₹49,000 crore. This initiative aligns with Andhra Pradesh’s Integrated Clean Energy (ICE) Policy, which aims to achieve over 160 GW of renewable energy capacity and attract investments worth ₹10 lakh crore.
This collaboration is expected to accelerate Andhra Pradesh’s transition to sustainable power, bolster energy security, and drive economic growth. The projects will create job opportunities, enhance skill development, and support livelihoods, contributing to the region’s socio-economic development.
Tata Power shares opened at ₹356.50, reaching a high of ₹361.80 and a low of ₹354.25 during the trading session. The stock’s 52-week high stands at ₹494.85, while its 52-week low is ₹326.35.
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