The company has delivered multibagger returns of over 280 per cent in the last three years.
Tata Power has secured a Letter of Intent (LOI) to acquire Bikaner-III Neemrana-II Transmission Limited, a special-purpose vehicle for building and operating a key transmission line. This project will be developed on a Build-Own-Operate-Transfer (BOOT) basis, with Tata Power responsible for construction, ownership, and operation for 35 years after a 24-month construction period. The project is estimated to cost Rs 1,544 crore and will generate annual transmission charges of Rs 162.659 crore. This strategic win reinforces Tata Power’s position as one of the leading players in India’s power transmission sector.
Recently, Tata Power Renewable Energy Limited (TPREL) has also secured a Letter of Award (LOA) to develop a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN). The project will utilize a hybrid combination of solar, wind, and battery storage to provide reliable and sustainable energy.
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This is the first FDRE power tender won by TPREL, and it marks a significant milestone in the company’s journey to expand its portfolio and contribute to the nation’s sustainable energy goals. The project is expected to be commissioned within 24 months from the PPA execution date and will offset 9 lakh metric tonnes of CO2 emissions annually. With this win, the total renewables capacity of TPREL reached 8,314 MW. FIIs and DIIs have increased their stake in the company to 10.00 and 15.68 per cent in September 2023 respectively.
Tata Power Company Limited is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources with 14,381 MW capacity. The company has also delivered multibagger returns of over 280 per cent in the last three years. It also has an order book of Rs 18,700 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
