Tata Power Co. gains after subsidiary, PPGCL inks MoU deal with ZaaK Technologies GmbH

Tata Power Co. rose 1.39% to Rs 225.70 after Prayagraj Power Generation Company (PPGCL) signed a MoU with ZaaK Technologies GmbH to jointly establish India's first Lypors pilot manufacturing plant at PPGCL.

PPGCL is a wholly-owned subsidiary of Renascent Power Ventures incorporated in India which is in turn a wholly-owned subsidiary of Resurgent Power Ventures Pte., a joint venture between Tata Power International Pte. (TPIPL), a wholly owned subsidiary of The Tata Power Company), ICICI Bank and other global investors.

The partnership between the PPGCL and ZaaK would create a new industry of sustainable construction material by reducing the consumption of precious natural sand resources. This will enable PPGCL to move rapidly towards its goal of adopting sustainable practices in thermal power generation.

Lypors is a sustainable sand material manufactured through a patented process by upcycling a wide range of mineral wastes, including fly ash, pond ash, old-deposited ash, bauxite residue and is used to produce lightweight concrete, mortar, plaster, and other building products. The partnership of PPGCL with ZaaK is in alignment with the Ministry of Environment Forest and Climate Change's draft notification, mandating 100% ash utilization.The technology will enable the country to manage the gainful utilization of fly ash.

Tata Power Co.'s consolidated net profit soared 73.3% to Rs 551.89 crore on a 43.6% jump in net sales to Rs 10,913.14 crore in Q3 December 2021 over Q3 December 2020.

Tata Power Company (TPC) is one of the largest private-sector power utilities in India, with an installed generation capacity of 13,068 megawatts as of September 2021. The company's business operations include power generation from thermal, hydro, solar and wind sources, transmission and distribution. The company also owns coal mines in Indonesia and a license for coal mining in Russia.

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