Page 6 - Tata Power

Tata Power board okays Rs 5,666 crore for 1,000 MW pumped storage project

Tata Power on Wednesday said its board has approved Rs 5,666 crore investment for setting upa 1,000 MW pumped storage hydro project. The company aims to set up the project in Bhivpuri over a period of 44 months, Tata Power said in an exchange filing. On the mode of financing, the company said the 75 per cent will be debt and 25 per cent will be met through equity financing. The company's overall existing capacity stands at 15.2 GW. "Pumped Storage Hydro Project (PSP) will be instrumental in Renewable Energy Round the Clock (RE-RTC) applications, facilitating energy shifting, and contributing to the decarbonise hard to abate industries," it said.

Tata Power Q2FY25 results: Net profit rises nearly 8% to Rs 1,093 cr

Tata Power on Wednesday posted nearly 8 per cent rise in its consolidated net profit to Rs 1,093.08 crore for the September quarter, mainly on the back of higher revenues. The company had reported a net profit of Rs 1,017.41 crore in the quarter ended September 30, a BSE filing showed. Its total income rose to Rs 16,210.80 crore in the quarter from Rs 16.029.54 crore a year ago. Praveer Sinha, CEO and Managing Director, Tata Power, said, "Our Generation, Transmission & Distribution, and Renewable businesses continue to witness sustained growth momentum as India sees record power demand and investment in the new Age of Electricity". All business segments have performed remarkably well during the quarter, leading to 20th consecutive quarterly PAT (net profit) growth, he pointed out. "Aligned with the Make in India' vision, our 4.3 GW cell-and-module plant in Tamil Nadu is going strength-to-strength with the commissioning of a 2 GW cell production line during the quarter," he said, .

Q2 results today: L&T, Tata Power, P&G, Dabur among 77 to post earnings

Q2FY25 company results: Aditya Birla Capital, Protean eGov Technologies, TTK Prestige, and New India Assurance will release their second-quarter results for the financial year 2024-25 on October 30

Tata Power Renewable, IndusInd Bank partner to finance solar projects

Tata Power Renewable Energy Ltd has partnered with IndusInd Bank to offer financing options to Micro and Small Enterprises (MSEs) for solar installations. This alliance will provide MSEs with collateral-free solar financing, by offering loans ranging from Rs 10 lakh to Rs 2 crore, Tata Power Renewable Energy said in a statement on Tuesday. These loans, contingent on the bank's credit approval, require a 20 per cent margin and come with competitive interest rates, offering terms of up to 7 years, the company said. Deepesh Nanda, CEO & MD, Tata Power Renewable Energy said, "Through a partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs (Micro and Small Enterprises) to adopt solar energy, which will not only help them reduce operational costs but also actively contribute to the green energy transition." Various public and private sector lenders are tied up with solar players to provide finance options for commercial and residential solar ...

Tata Power acquires 40% stake in Khorlochhu Hydro Power for Rs 830 cr

Tata Power on Monday said it has acquired 40 per cent stake in Bhutan-based Khorlochhu Hydro Power Limited for Rs 830 crore. "It has today executed the Share Purchase Agreement between the company, existing shareholder of KHPL and KHPL," Tata Power said in an exchange filing. On August 6, the Board of Directors of The Tata Power Company Limited approved a proposal for the acquisition of a 40 per cent equity stake in Khorlochhu Hydro Power Limited in one or more tranches. The cost for acquisition of a 40 per cent equity stake in KHPL is around Rs 830 crore, Tata Power had said. Tata Power said it has finalized an agreement with Druk Green Power Company to develop the hydro project in the neighbouring country at an estimated cost of Rs 6,900 crore.

Tata Power, Keppel team up for sustainable cooling solutions in India

The collaboration, the company added, will focus on high-demand environments such as airports, IT parks, Special Economic Zones, data centres, and other industrial and commercial properties

Tata Power firm launches programme to promote solar power in Tamil Nadu

Initiative provides subsidies to households to adopt green energy, says company

Market Close Highlights, Oct 10: Sensex adds 144 pts, Nifty nears 25,000; Banking shares shine

Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree

Tata Power seeks Rs 21,000 crore wind turbine bids for 3 GW green push

Tata Power is seeking bids for over 3 Gigawatts (GW) of wind turbines, with the possibility of increasing the capacity to 5 GW over the next five years

Tata Group stocks trade weak; Tata Power, Tata Chem, Tata Com down up to 6%

Thus far in CY24, Voltas (up 81%), Tata Investment Corporation (53%), Tejas Networks (31%), Tata Power (35%), Nelco (20%),Tata Steel (18%) and Tata Communications (13%) have outperformed the Sensex.

Tata Power to invest $14.3 billion in Rajasthan over next 10 years

Tata Power on Monday said it has inked an initial pact with the Rajasthan government for investment of Rs 1.2 lakh crore, including Rs 75,000 crore in green energy, in the state's power sector. The 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply. Investments will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging, a company statement said. The MoU was signed during the 'Rising Rajasthan' Investor Meet in New Delhi on Monday. An amount of Rs 20,000 crore will be invested in the state transmission and distribution area to modernize the grid infrastructure, reduce energy losses, and improve power quality across the state. Besides, Rs 10,000 crore will be invested for transmission systems exploring opportunities to develop nuclear power plant. Nearly Rs 75,000 crore will be for renewable energy projects.

Morgan Stanley double upgrades Tata Power, Torrent Power; check out details

Morgan Stanley has revised its stance on 6 utility stocks from Tata Power, Torrent Power to Suzlon Energy

Tata Power, Siemens among top bets by Chandan Taparia of MOFSL for today

Tata Power is trading near its all-time high price and given a range breakout on the weekly chart. The ADX indicator has turned up which supports the bullish trend.

Fire incident at Tata Power's Trombay plant; no injuries, damage reported

Tata Power on Tuesday reported about a fire incident at its Trombay plant in Maharashtra. The cause of the fire is currently under investigation, and no injuries or loss of life have been reported, the company said in an exchange filing. "...there was a fire incident in the Control Room of Unit No 5 (500 MW unit) of Trombay Plant on September 23, 2024," Tata Power said. The company said it is in the process of assessing the actual damage caused by the fire. "We also confirm that the plant is adequately insured, and the insurance firm has been duly informed," it added.

Tata Power-DDL receives patent for transformer life-enhancing device

Tata Power Delhi Distribution Ltd on Monday said it has received a patent for self-regenerating transformer breather for 20 years. The 'Self-Regenerating Breather' is a device protecting a transformer from moisture ingress and thus, increases the longevity of electric transformers, the company said in a statement. According to the statement, Tata Power Delhi Distribution Ltd (Tata Power-DDL), a leading power utility supplying electricity to over 2 million customers in North Delhi, has been granted the patent for its unique self-regenerating transformer breather for a term of 20 years. The patented technology is also expected to reduce the maintenance man-days for replacement of Silica gel in a transformer's breather to protect it from moisture damage, the statement said. With the new technology, Silica gel will be required to be checked or replaced only during the transformer maintenance schedule, which is generally once in two years. In contrast, in the conventional design, Silica

Tata Power to scale up internal renewable energy component supply chain

Plans to manufacture key parts rather than buying them

TPREL pledges Rs 75,000 crore to achieve 20GW solar capacity by 2030

Tata Power Renewable Energy Ltd (TPREL) has committed an investment of Rs 75,000 crore to achieve 20GW of operational capacity by 2030, a top company official said. Talking to PTI Videos on Tuesday, TPREL President Deepesh Nanda said that the company is already operating 5 GW capacity and has another 5 GW under construction. "We have committed to take this number all the way to 20 GW operational capacity by 2030," he said. To achieve this target, TPREL has committed an incremental investment of Rs 75,000 crore, he said adding that the company may meet these goals, possibly ahead of schedule. "We have just commissioned a massive 4.3 GW module manufacturing facility in Tirunelveli, which will further support our growth plans," Nanda added. Tata Power Renewable Energy Ltd is a subsidiary of Tata Power Ltd.

Tata Power Renewable Energy bags 400 MW wind-solar project from MSEDCL

Tata Power Renewable Energy on Wednesday said it has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has successfully secured a Letter of Award (LoA) from MSEDCL, a wholly-owned entity under the Maharashtra government, for the development of a 400 MW wind-solar hybrid project in Maharashtra, a statement said. The company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL. The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal. The project is expected to be completed within 24 months from the signing of the Power Purchase Agreement (PPA) between TPREL & MSEDCL and will play a crucial role in cutting carbon ..

Tata Power to invest up to $9 bn to expand renewable energy capacity

Tata Power, which currently has 5 GW renewable energy capacity in large projects, will add another 5 GW capacity in the next one to two years and expand that to more than 20 GW by 2030

Tata Power installs rooftop solar systems at 600 locations in Chhattisgarh

Tata Power Solar Systems Ltd (TPSSL) has installed rooftop solar systems at more than 600 locations in Chhattisgarh under an initiative, a company official said on Sunday. The company, which is a wholly-owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), launched its rooftop solar system installation initiative after its success in Rajasthan, Uttar Pradesh and Kerala, the official said.. Though the installation of rooftop solar systems under the initiative, 'GharGharSolar, Tata Power ke Sang', started in mid-this year in the state, it was officially launched by Tata Power Company Chief Executive Officer and Managing Director Praveer Sinha and TPREL CEO and MD Deepesh Nanda this week, the official said. The initiative intends to make clean energy available to all households in the state, building on the commitment to promoting sustainable energy solutions throughout India, he said. Chhattisgarh has become a significant hub for TPSSL's activities and initiatives, with a cate