Tata Power Renewable Energy Limited (TPREL), a key renewable energy arm of Tata Power, has signed its first-ever Battery Energy Storage Purchase Agreement (BESPA) with NHPC Limited. This agreement marks a major milestone for TPREL as it enters the standalone battery storage segment.
The deal involves setting up a 30 MW / 120 MWh battery energy storage system (BESS) at a 220 kV substation in Kerala. This project was received through a competitive bidding method under NHPC’s BESS Tranche-I tender for the Kerala State Electricity Board Limited.
The battery storage system will help manage peak electricity demand, improve grid flexibility, and support the use of renewable energy in Kerala. It aligns with NHPC’s broader goal of setting up 125 MW / 500 MWh of standalone BESS in the state. The project will operate under a 12-year agreement and is expected to be completed within 15 months.
This project is part of the Government of India’s target of achieving 500 GW of non-fossil fuel energy capacity by 2030. Supported by Viability Gap Funding and guided by the Ministry of Power, it strengthens the role of energy storage in India’s energy transition.
TPREL is already running a combined solar and BESS project in Rajnandgaon, Chhattisgarh, featuring a 100 MW solar plant and 120 MWh storage. The new Kerala project is TPREL’s first standalone battery storage win. With this, TPREL's total renewable energy capacity now stands at around 10.9 GW — including 5.6 GW in operation (4.6 GW solar and 1 GW wind) and 5.3 GW under development.
Tata Power, part of the Tata Group, operates a total power portfolio of 15.7 GW across renewables and conventional energy. It also works in transmission, distribution, trading, storage, and solar manufacturing. About 6.9 GW of its capacity is clean energy. The company aims for carbon neutrality before 2045 and serves nearly 12.8 million customers across India.
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As of July 18, Tata Power share price (NSE: TATAPOWER) is ₹410.00, down ₹3.45 or 0.83% for the day. The stock opened at ₹411.00 and touched a high of ₹414.15 and a low of ₹406.15 during the session. The company has a market capitalisation of ₹1.31 lakh crore, a P/E ratio of 33.04, and offers a dividend yield of 0.55%. Its 52-week high is ₹494.85, while the 52-week low stands at ₹326.35. The latest quarterly dividend amount is ₹0.56 per share.
With this first standalone battery storage project in Kerala, TPREL takes a big step forward in energy storage and renewable integration. The project not only strengthens Tata Power’s leadership in clean energy but also supports India’s ambitious climate and energy goals.
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Published on: Jul 18, 2025, 12:12 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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