Tata Power gains as arm commissions solar project in MP

Tata Power Company added 2.21% to Rs 425.35 after the company said that its subsidiary, Tata Power Renewable Energy, successfully commissioned the 431 MW DC solar project at Neemuch in Madhya Pradesh.

In an exchange filing, the company said that India's first large-scale solar project to combine single-axis trackers and bi-facial modules, spanning 1,635.63 acres, has set a new benchmark for solar energy generation in India. This innovative project, which boosts efficiency by over 15%, was won through a competitive bidding process and built despite challenges such as rocky terrain and remote logistics, it added.

Deepesh Nanda, CEO and managing director of Tata Power Renewable Energy, said, We are thrilled to announce the successful commissioning of the 431 MW DC solar project in Neemuch. At Tata Power Renewables, we are proud to lead the way towards a greener future for India, and this project is a testament to our commitment to sustainable energy and innovation while working tirelessly to enhance efficiency and reliability in Indias solar sector.

We are confident that this project will not only reduce our carbon footprint but also strengthen our role in powering key infrastructure, including Western Central Railways and Madhya Pradesh Power Management Co.

The project contributes to sustainability with an estimated CO2 offset of 7,80,300 tonnes. It meets the highest engineering standards, with SCADA commissioning ensuring optimal performance. CEA compliance ensures smooth operation of the Static Var Generator (SVG), while harmonic filters maintain WRLDC compliance.

Additionally, the project ensures a reliable power supply to Western Central Railways and Madhya Pradesh Power Management Company Limited, strengthening the regions energy infrastructure.

Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it has an installed/managed capacity of 14,453 MW. The company has a presence across the entire power value chaingeneration of renewable as well as conventional power, including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.

The companys consolidated net profit increased 7.44% to Rs 1,093.08 crore, despite a 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24.

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