Tata Power hits 52-week high as arm signs agreement with Chalet Hotels

Tata Power Company’s share price jumped 1% to a 52-week high at Rs 258.45 in first trading on September 4 after the company signed an agreement on a 6 MW AC project with Chalet Hotels.
The Company’s subsidiary, Tata Power Renewable Energy Limited (TPREL), has signed a Power Supply Agreement (PDA) for a 6 MW AC captive project with Chalet Hotels.
The plant will produce 13.75 million units of clean energy from renewable sources under this agreement. TPREL has signed a 4.4MW air conditioner PDA consortium with the world’s leading automotive systems and parts industry, the ANAND Group.
Under the agreement, TPREL will facilitate the production of 10 million units of clean energy through renewable sources. The company said it hopes the project will eliminate about 5,500 tonnes of carbon emissions per year, in line with its mission to ensure a cleaner, greener future for commercial and industrial customers (THIS).
The subsidiary also signed a power purchase agreement for a 9 MWp solar power plant on campus with Tata Motors Limited Pantnagar plant in Uttarakhand.
The project will be operational within six months and will use both roof and ground mounting systems for installation.
Tata Power Delhi Distribution Ltd (Tata Power-DDL) has received a three-year extension until 2026 from the Department of Scientific and Industrial Research (DSIR) for its in-house R&D unit.
Tata Power Delhi Distribution Ltd is a joint venture between Tata Power and the NCT Government of Delhi. While DSIR is part of Ministry of Science and Technology, Government of India.