Page 10 - Tata Power

Tata Power ties up with Indian Oil to set up over 500 EV charging stations

IOCL said it is aiming to provide 10,000 EV charging stations in India by 2024 transforming the retail network to complete energy solutions outlets

68 companies blaze a trail, capturing 56% of India's market; PSUs take lead

FORTUNE'S FAVOURED FEW: Sixty-eight companies blaze a trail, capturing 56% of India's market; PSUs take the lead

Tata Power soars 6%; hits new high after 20 months on positive outlook

CRISIL Ratings expects Tata Power's consolidated adjusted Ebitda to be more than Rs 12,000 crore each in fiscals 2024 and 2025, against around Rs 11,500 crore in FY23 and around Rs 9,600 crore in FY24

TCS, Tata Motors, Titan, IHCL: Track key levels for Tata Group stocks

Among the Tata Group stocks, shares of Tata Motors could potentially top the Rs 900-mark, while a select few could gain in the range of 15 - 19 per cent from present levels.

Stocks to Watch today, Dec 4: SBI, HUL, Salasar Techno, Tata Power, Alkem

Stocks to Watch on Monday, December 4, 2023: Hindustan Unilever has decided to split its beauty and personal care business into two separate divisions

Tata Power acquires Bikaner-Neemrana Transmission Project via bidding

Tata Power on Saturday said it has acquired Bikaner-Neemrana Transmission Project through a bidding process. Bikaner-III Neemrana-II Transmission Ltd is a special purpose vehicle (SPV) set up by PFC Consulting, for the project. The company has acquired Bikaner-Neemrana Transmission Project to boost renewable energy evacuation in India, a company statement said. The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by Ministry of Power, it added. The project, which will be developed on a Build-Own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project entails establishment of a 340-km transmission corridor from Bikaner-III pooling station to Neemrana II substation. Tata Power will maintain the transmission project for a period of 35 years. It is estimated to cost Rs 1,544 crore and i

Tata Power to invest Rs 60k cr till FY27, bulk of it in renewable capacity

Tata Power will be investing Rs 60,000 crore over the next three years with almost half of it in the renewables sector, a top official said on Tuesday. The company, which is into power generation, transmission and distribution, will not be adding any new coal-based "thermal power capacity", its chief executive and managing director Praveer Sinha told reporters here. It is investing up to Rs 15,000 crore in FY24, and will take it to up to Rs 20,000 crore in FY25, Rs 22,000 crore in FY26 and Rs 23,000 crore in FY27, to take the overall capex to Rs 60,000 crore by FY27. In addition to two hydel pumped storage projects (PSP) of 2,800 mw entailing an investment of Rs 13,000 crore announced earlier, the company has identified another three similar projects having the potential to generate up to 9,000 mw of power in the close vicinity, Sinha said. Underlining that brownfield expansions like PSPs is better from the financial perspective, Sinha said it takes about Rs 5 crore of investment p

In a first, Tata Power Renewable Energy secures 200 MW FDRE project

Tata Power Renewable Energy Ltd (TPREL) has bagged a 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN Ltd. FDRE provides round-the-clock power supply and supports the discoms in meeting renewable purchase obligation (RPO) and energy storage obligation (ESO), Tata Power said in a regulatory filing. The company said its subsidiary, "Tata Power Renewable Energy Limited (TPREL), has received a Letter of Award (LOA) for developing the 200 MW FDRE project with SJVN Ltd (SJVN)," the company said. The company, however, did not disclose the financial details of the order. SJVN is a public sector undertaking (PSU) involved in hydroelectric and renewable power generation and transmission and has been designated as the Renewable Energy Implementing Agency (REIA) by the Ministry of New & Renewable Energy (MNRE) for achieving the nation's target of achieving 500 GW by 2030. This is the first FDRE power tender won by TPREL. It (tender) also includes a greenshoe option, ...

CRISIL upgrades outlook on Tata Power to 'positive' on profitability view

Tata Power on Wednesday said Crisil Ratings has upgraded its outlook on the company to 'positive' on expectation of an improvement in operating profitability this fiscal. The ratings agency had earlier assigned a 'stable' outlook on the company, Tata Power said in a regulatory filing. "CRISIL Ratings Limited has upgraded its outlook on the company (Tata Power) from AA/Stable Outlook to AA/Positive Outlook," it said. The revision in outlook reflects the possibility of better-than-expected business risk profile, if the improvement in operating profitability in fiscal 2024, across power generation and distribution business, sustains along with a continuing healthy financial performance with consolidated net leverage (ratio of net debt to EBIDTA) remaining within rating threshold, it said. The increase in operating profitability of Tata Power since fiscal 2023, is mainly on account of better profitability of its Mundra Ultra Mega Power Project (Mundra plant), improved efficiency in Odi

Tata Power adds to EV charging infrastructure on Chandigarh-Shimla route

Tata Power on Tuesday said it has ramped up Electric Vehicle (EV) charging infrastructure on the Chandigarh-Shimla route to facilitate eco-friendly travel. The route connects two major cities -- Chandigarh and Shimla -- serving as a crucial link for travellers and businesses alike. "Tata Power, one of India's largest and leading EV charging solutions providers announced the activation of its EV charging infrastructure along the Chandigarh- Shimla highway, covering a total distance of 111 kms and addressing the demand for reliable charging options on this popular route," a company statement said. The strategically positioned charging stations at Hotel Falcon Crest on the Chandigarh-Shimla Highway around Kandaghat and The Oberoi Cecil, Chaura Maidan Road near Shimla, enhance the feasibility of EV travel on the route, as per the statement. The first charging point is 83 km from Chandigarh to Hotel Falcon Crest, and the other is 26 km from Hotel Falcon Crest to The Oberoi Cecil. Consu

Tata Power Renewable Energy adds 1.4 GW in group captive projects

Tata Power Renewable Energy Ltd (TPREL) on Monday said it has added 1.4 GW group captive projects to its portfolio in the last six months in India. With the addition of these group captive projects, TPREL said its overall renewables capacity reached 7,961 MW as of October 2023, a company statement said. The portfolio comprises 3,755 MW projects in different phases of development, it added. Its operating 4,206 MW capacity includes 3,200 MW in solar projects and 1,006 MW in wind projects. TPREL has added 1.4 GW capacity of group captive projects in the last six months (June-November), the statement stated. This achievement is the result of the signing of Power Delivery Agreements (PDA) with various industries across segments, it explained. Some of the prominent group captive projects that TPREL has signed include collaborations with Tata Steel, Tata Motors, Mukand Limited (a Bajaj Group company), and Sanyo Special Steel Manufacturing India Pvt, among others. TPREL CEO and MD Deepe

Tata Power gets 1st set of BESS from Tata AutoComp for energy storage park

Tata Power on Saturday said it has received the first set of Battery Energy Storage Systems (BESS) from TATA AutoComp for its energy storage park. These BESS will be deployed at a 120 MW energy storage park in Chhattisgarh, Tata Power said in a statement. Tata AutoComp, a leading auto components maker, also inaugurated its manufacturing facility for BESS. The Li-ion-based BESS will be manufactured under its joint venture Tata AutoComp Gotion Green Energy Solutions Pvt Ltd. "With the rise of renewables, energy storage has become critical to address the intermittency of solar and wind energy resources. We shall integrate these BESS at our renewable sites to enable round-the-clock supply of clean power and ensure a speedier green energy transition," Tata Power CEO Praveer Sinha said. Spread over 22,227 square feet, the newly inaugurated BESS facility will have a capacity of 6 GWH (gigawatt hour) and will serve the emerging energy storage industry. Tata AutoComp had earlier entered in

Street cautious on Tata Power stock after Q2 results; bearish calls persist

Results were boosted by higher plant utilisation (60 per cent) at Mundra UMPP, driven by Section 11 tariffs

Sensex falls 143 pts, Nifty below 19,400; RIL, Infosys weigh, M&M gains 4%

Closing Bell on November 9, 2023: In the broader markets, the BSE MidCap index added 0.06 per cent, but the BSE SmallCap index slipped 0.27 per cent

Stocks to Watch: Vedanta, Adani Ports, Lupin, Tata Power, MCX, BHEL, IFCI

Stocks to watch on Thursday, November 09, 2023: Adani Ports Sri Lankan JV to get $553 mn funding from the US DFC. Patanjali, Phoenix Mills and Brigade Enterprises to react to strong jump in Q2 profit.

Tata Power Q2FY24 PAT up 6.9% to Rs 876 crore on back of higher revenue

Revenue for the company rose 12.2 percent to Rs 15,738 crore largely driven by higher revenue from core businesses of generation, transmission and distribution

Tata Power Q2 net profit rises to Rs 1,017 cr on strong growth in core biz

Tata Power on Wednesday posted a 9 per cent rise in its consolidated net profit to Rs 1,017.41 crore in the September quarter, mainly on the back of higher revenues from core business. Its consolidated net profit was Rs 935.18 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 16,029.54 crore in the July-September quarter from Rs 14,181.07 crore in the same period a year ago. In a statement, the company explained that during the quarter, a significant 84 per cent contribution to the company's Profit After Tax (PAT) came from the core businesses, while the contributions from overseas joint ventures, including coal mining operations, continued to decline. "We have reported yet another strong quarter of financial performance, driven by robust contributions from all our core business clusters. Our adherence to financial discipline, operational excellence along with business resilience and diversification have helped us in maintaining this consisten

TPDDL, IIT-Roorkee sign MoU for development of energy saving solutions

Tata Power Delhi Distribution Ltd (TPDDL) on Tuesday said it has signed an agreement with IIT-Roorkee to conduct research and develop solutions for optimal use of energy. The Memorandum of Understanding (MoU) was signed between TPDDL CEO Ganesh Srinivasan and M K Singhal, Head of Department, Hydro and Renewable Energy at IIT Roorkee. "TPDDL and IIT Roorkee signed a MoU to research and develop pioneering solutions for optimal use of energy, leading to greener and sustainable future through its Urja Arpan initiative," the company said in a statement. The collaboration with IIT Roorkee signifies a harmonious blend of our experience and their academic brilliance, fostering a fertile ground for... pioneering research papers and inventive ideas within the realm of Urja Arpan, Srinivasan said. Tata Power Delhi Distribution Ltd is a joint venture between Tata Power and the Delhi government.

Adani Green crosses 8.4 GW mark, becomes India's largest RE company

Among its peers, ReNew is closest with 8.3 GW, followed by Tata Power and Greenko Energies with close to 4 GW capacity each. State-owned NTPC has a 3.2 GW green energy capacity

MPCB asks Tata Power to halve particulate matter emissions at plant

Tata Power on Friday said the Maharashtra Pollution Control Board (MPCB) has requested it to halve the particulate matter emissions from its generating unit here to help curb pollution. "MPCB has asked Tata Power to explore the feasibility of reducing the particulate matter from the stack from the present permissible 100 Mg/Nm3 to a more benign 50 Mg/Nm3," a spokesperson for the power utility said. Tata Power said Thursday's news reports about it being asked to halve production to help reduce pollution are "factually incorrect". Mumbai is witnessing very high air pollution despite its inherent advantage of being a coastal city. Experts have blamed the infrastructure and construction building activity and poor enforcement of regulations designed to curb pollution for the situation.