Tata Power shares hit 52-week high as renewable arm signs more power supply pacts

Tata Power’s share price jumped nearly 1% to hit a 52-week high of Rs 262.50 in its first trading session on September 5, when the company announced that its Renewable Energy affiliate signed Power Supply Agreement (PDA) with Neosym Industry.
Tata Power Renewable Energy Limited (TPREL) will power Neosym Industry – a Gray & SG iron foundry maker – from AC Group’s 26 MW fixed solar power plant. The project located at Jamkhed, Ahmednagar in Maharashtra, with a planned generating capacity of 59 million units per year, will commence from March 2024.
Shares of Tata Power rose more than 5% in the last five trading sessions on September 4, reaching a 52-week high of Rs 262.3 on Monday, following a similar announcement of a damaged power plant. detention. Previously, on September 2, the renewable energy arm of Tata Power signed a PDA for a 6 MW AC project with Chalet Hotels. In August, the branch signed a PDA group for 4.4 MW alternating current with the world leader in the auto parts and systems industry ANAND Group, and signed a power purchase agreement for 9 MWp solar power plant on campus with Tata Motors Limited in Pantnagar. factory in Uttarakhand. .
TPREL is a developer of renewable energy projects (including solar, wind, hybrid, 24-hour (RTC), floating, peak solar and storage systems including battery storage. ) that TPREL owns, operates and maintains.
The company also provides complete green energy solutions for rural and urban areas such as turnkey solutions, EPC and O&M for various business segments such as large-scale projects, energy roofs. solar and solar pumping systems.