Tata Power Subsidiary Wins 400 MW Renewable Energy Project in Maharashtra
Tata Power Renewable Energy Limited secures Letter of Award for 400 MW Wind-Solar Hybrid project in Maharashtra, expected to reduce carbon emissions by 895 million kilograms annually.
Tata PowerRenewable EnergyWindsolar HybridMaharashtraCarbon EmissionsReal Estate MaharashtraSep 18, 2024
The project, which is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL, will play a crucial role in cutting carbon emissions, with an estimated reduction of 895 million kilograms of CO2 annually.
The LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW, making this the largest renewable energy project in the state of Maharashtra till date for TPREL.
Shares of Tata Power were trading on a flat note in the afternoon session today, despite the positive news. The stock was trading at Rs 445.55, with a market cap of Rs 1.42 lakh crore on BSE.
In terms of technicals, the relative strength index (RSI) of Tata Power stock stands at 59.7, signaling the stock is trading neither in the oversold nor in the overbought zone. Tata Power shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.Tata Power is an Indian electric utility company based in Mumbai, Maharashtra. The company is a subsidiary of the Tata Group, one of India's largest conglomerates.
Frequently Asked Questions
What is the capacity of the renewable energy project won by Tata Power's subsidiary?
The project has a capacity of 400 MW, with an original contracted capacity of 200 MW and a greenshoe option for an additional 200 MW.
What is the expected completion time for the project?
The project is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL.
What is the estimated reduction in carbon emissions from the project?
The project is expected to reduce carbon emissions by 895 million kilograms annually.
How is Tata Power's stock performing today?
The stock was trading on a flat note at Rs 445.55, with a market cap of Rs 1.42 lakh crore on BSE.
What is the relative strength index (RSI) of Tata Power stock?
The RSI of Tata Power stock stands at 59.7, signaling the stock is trading neither in the oversold nor in the overbought zone.
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