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Tata Power Company jumped 3.96% to Rs 378.95 after its subsidiary, Tata Power Renewable Energy (TPREL), signed a power purchase agreement (PPA) with NTPC for the development of a 200 MW firm and dispatchable renewable energy (FDRE) project.
Shares of NTPC rose 1.42% to Rs 365.20 on the BSE.
The project, which will be spread across multiple locations in India, is expected to be completed within 24 months. It is projected to generate approximately 1,300 million units (MUs) of electricity annually, thereby mitigating over 1 million tons of carbon dioxide emissions each year.
The project was secured by TPREL through a competitive bidding process and will comprise a mix of solar, wind, and battery energy storage system (BESS) technologies.
A key feature of this initiative is the commitment to a four-hour peak power supply, ensuring at least 90% availability during peak demand hours to support the growing energy requirements of distribution companies.
This collaboration further reinforces TPREL's position as a leader in India's renewable energy sector, particularly in hybrid and complex renewable projects involving solar, wind, and battery storage. With a strong commitment to sustainability and innovation, the company continues to advance India's transition to a greener and more resilient energy future.
With this project, TPREL's total renewable utility capacity has reached 10.9 GW. Currently, 5.5 GW of this capacity is operational, comprising 4.5 GW of solar and 1 GW of wind energy. An additional 5.4 GW is under various stages of implementation, evenly split between 2.7 GW of solar and 2.7 GW of wind projects. These ongoing projects are expected to be completed in phases over the next 6 to 24 months in a staggered manner.
Tata Power Company, a leading integrated power company and a part of the Tata Group, India's largest multinational business conglomerate, owns a diversified portfolio of 15.6 GW. This portfolio spans the entire power value chain, from renewable and conventional energy generation to transmission, distribution, trading, storage solutions, and solar cell and module manufacturing.
NTPC Green Energy (NGEL), promoted by 'Maharatna' central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity.
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