Tata Power Share Price Surge: Company Seeks Bids for 3 GW Wind Turbines Worth Rs 21,000 Crore

Tata Power Eyes Major Renewable Energy Expansion

Tata Power, one of India’s leading renewable energy players, is taking a significant step towards expanding its wind energy capacity. The company is seeking bids for the supply of wind turbines with a total capacity of over 3 gigawatts (GW) to be installed in its wind-solar hybrid renewable energy projects across the country over the next three to five years. Industry insiders estimate the total contract value to be upwards of Rs 21,000 crore, making it one of the largest wind turbine orders in India’s history.

Major Wind Turbine Manufacturers in the Race

Several prominent original equipment manufacturers (OEMs) are competing to supply these turbines, including Siemens Gamesa, Senvion India, Envision Energy, and Suzlon Energy. While Tata Power plans to break the bid into multiple contracts, sources suggest the final requirement could increase to nearly 5 GW over five years, potentially raising the contract value to Rs 35,000 crore. This investment is part of Tata Power’s broader vision of bolstering its renewable energy portfolio.

Green Ambitions for the Future

Tata Power is committed to transitioning to 100% clean power generation by FY45. The company currently operates 4.8 GW of renewable energy capacity, with 10.5 GW in total, including projects at various stages of implementation. By 2030, Tata Power aims to reach a total capacity of 20 GW.

As part of this strategy, the company is developing a 966 MW solar-wind hybrid plant for Tata Steel and has partnered with state-owned SJVN Ltd to set up a 1.3 GW renewable energy project.

Renewables and Government Focus

The Indian government’s focus on renewable energy aligns with Tata Power’s goals. India is aiming for 25 GW of wind power capacity by 2028, and Tata Power’s move to secure 3 GW of wind turbines could give the sector a much-needed boost. Over the past few years, wind power project demand in India has been relatively weak, and this initiative could mark a turning point.

Tata Power Share Price Surge

Tata Power’s shares have responded positively to these developments, surging by 2% on Wednesday. The stock is now trading above its 20-SMA, with Rs 471-472 acting as a near-term resistance. On a year-to-date (YTD) basis, Tata Power’s stock has risen by 40%.

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.