Tata Power gains after subsidiary commissions 300 MW solar plant

Tata Power Company rose 2.51% to Rs 251.55 after the company announced that its wholly owned subsidiary, Tata Power Renewables Energy (TPREL) has commissioned a 300 megawatt project in Dholera, Gujarat.

The project will generate 774 million units (MU) annually along with this it will reduce approximately 704,340 metric ton per year of carbon emission.

Speaking about the commissioning of the project, Dr. Praveer Sinha, CEO & MD of Tata Power said, Commissioning of India's largest single-axis solar tracker system of 300 MW Solar plant at Dholera in Gujarat within the set timelines is a proud moment for Tata Power. Our technical expertise and project execution skills will further solidify our position in the solar EPC space and help India lead the way in renewable energy growth."

With this addition, the renewables capacity in operation for Tata Power now stands at 3,400 MW with 2,468 MW of solar and 932 MW of wind. Tata Power's total renewable capacity is 5,020 MW including 1,620 MW of renewable projects under various stages of implementation.

Tata Power Company 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 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 FY22 over Q3 FY21.

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