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.
Related News Articles
India's Tier-II Cities Emerge as New Real Estate Hubs
India's smaller cities are becoming vibrant centres of growth and opportunity in the real estate market
Real Estate Stocks Face Steep Declines in Mid-Afternoon Trading
Real Estate stocks experienced significant losses, with the BSE Realty index dropping 233.41 points, or 2.96%, to 7,645.76 at 13:47 IST.
Omaxe Expands Real Estate Portfolio with Strategic Acquisitions Amid Q2 FY25 Losses
Despite facing significant financial losses in the second quarter of FY25, Omaxe continues to strengthen its market presence and diversify its real estate portfolio through strategic acquisitions.
Centre May Gain Control Over Pataudi Family’s Ancestral Properties Worth Crores
The government is reportedly looking to take control of the ancestral properties belonging to the Pataudi family, a prominent name in Indian cricket. These properties, located in India, are estimated to be worth crores of rupees. The move is being seen as
RBI's Repo Rate Cut to Boost the Real Estate Sector: Experts
Real estate experts are optimistic that the recent repo rate cut by the Reserve Bank of India (RBI) will have a positive impact on the sector, making home loans more affordable and encouraging property purchases.
Sanand-Nalsarovar Road: A Beacon for Real Estate Development
The Sanand-Nalsarovar corridor, situated just 45 minutes from Ahmedabad, is rapidly emerging as a prime location for real estate investment and development. Known for its strategic location and burgeoning industrial activities, the area is attracting sign