Tata Power Surges 4% on Rapid Expansion, Crosses 1.4 GW Milestone

Tata Power Company witnessed a 4.02% surge in its shares, reaching Rs 263.70 in early trade on November 21, buoyed by the company’s accomplishment of surpassing 1.4 GW capacity in group captive projects within the last seven months.

The significant milestone was achieved by Tata Power Renewable Energy Limited (TPREL), a subsidiary of the company, which successfully crossed the 1.4-GW capacity mark in group captive projects. This feat is attributed to the signing of Power Delivery Agreements (PDAs) with various industries across segments, reflecting the company’s commitment to sustainable energy solutions.

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Over the past six months, TPREL has inked notable agreements for group captive projects with key entities such as Tata Steel, Tata Motors, Mukand Limited (a Bajaj Group company), Supreme Petrochem Limited, Xpro India Limited, Neosym Industry Limited, Chalet Hotels Limited, Sanyo Special Steel Manufacturing India Pvt Ltd, ANAND Group, Endurance Technologies Limited, among others. TPREL is also set to construct a 41 MW captive solar plant for Tata Power’s upcoming 4.3 GW Solar cell & module manufacturing facility in Tamil Nadu.

As of 10:11 am, Tata Power shares continued their upward trajectory, surging 4.02% higher at ₹77.70.