Tata Power’s share price climbed 2.5% on Tuesday, December 3, 2024, continuing its upward trajectory with a 29% year-to-date (YTD) increase. This rise coincides with the successful commissioning of a significant renewable energy project by its subsidiary, Tata Power Renewable Energy Limited (TPREL).
TPREL has commissioned a 431 MW DC solar project in Neemuch, Madhya Pradesh. This milestone marks one of India’s most cost-effective and technologically advanced solar initiatives. The project spans over 1,635.63 acres and integrates single-axis trackers with bifacial modules, increasing system efficiency by over 15%.
This project supports critical energy infrastructure, ensuring reliable power for Western Central Railways and Madhya Pradesh Power Management Co. Ltd. Moreover, it is estimated to offset approximately 7,80,300 tonnes of CO₂ annually, underlining Tata Power’s commitment to sustainable practices.
Constructing the Neemuch solar facility came with challenges, including rocky terrain, transmission line readiness, and remote logistics. Yet, TPREL’s innovative approach ensured successful execution, meeting stringent engineering standards such as SCADA commissioning and compliance with WRLDC regulations.
This development boosts TPREL’s total renewable energy capacity to 10.9 GW, with 5.4 GW operational. Tata Power remains a leader in India’s green energy transition, with 43% of its portfolio dedicated to clean energy.
Mr Deepesh Nanda, CEO and Managing Director of TPREL, emphasised the project’s significance in reducing carbon emissions and enhancing energy efficiency. The project is a testament to Tata Power’s dedication to innovation and sustainability.
Tata Power, part of the Tata Group, manages a diversified energy portfolio of 15.5 GW. The company aims to achieve carbon neutrality by 2045, reflecting its pioneering role in India’s clean energy sector.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 3, 2024, 12:57 PM IST
We're Live on WhatsApp! Join our channel for market insights & updates