Introduction:
Leading renewable energy company has partnered with Canara Bank to promote the PM Surya Ghar Scheme. This collaboration offers affordable solar financing options to Indian households, making rooftop solar installations more accessible and supporting the transition to clean energy.
Also Read: Chemical stock jumps 4% after company announces demerger of its agricultural business
Share price movement of Tata Power:
On December 20, 2024, Tata Power opened at ₹411.00, slightly down from its previous close of ₹412.60. The stock reached a high of ₹415.50 and a low of ₹403.90. By 2:29 PM, it traded at ₹404.40, a 1.99% decrease, with a market cap of ₹1,29,219.53 crore.
Tata Power joins hands with Canara Bank for solar financing:
Tata Power Renewable Energy Limited (TPREL) has partnered with Canara Bank to promote the PM Surya Ghar Scheme, aimed at making rooftop solar installations more accessible to Indian households. This collaboration focuses on providing affordable solar financing options for clean energy adoption.
Under the scheme, households can avail of loans up to ₹ 2 lakh for solar systems up to 3 kW, with a competitive interest rate of 7% per annum and a tenure of up to 10 years. The financing comes with minimal margin money and collateral-free options.
For larger systems (3 kW to 10 kW), the scheme offers loans of up to ₹ 6 lakh with an interest rate of 10% per annum and a tenure of 10 years. The initiative aims to empower citizens to transition to sustainable energy solutions, contributing to India’s clean energy goals.
Recent news on Tata Power:
On November 21, 2024, Tata Power has signed an MoU with the Asian Development Bank (ADB) during COP29 in Baku, Azerbaijan, to explore financing for key projects including solar-wind hybrids, pumped hydro storage, and energy transition initiatives.
Stock performance of Tata Power for Period of 1 week, 6 months and 1 year:
Tata Power Renewable Energy Limited has experienced a -3.70% return over the past week and a -5.95% return over the last six months. However, it has shown a strong performance with a 25.6% return over the past year, reflecting long-term growth.
Shareholding pattern of Tata Power:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 46.90% | 46.90% | 46.90% |
| FII | 9.20% | 9.50% | 9.40% |
| DII | 17.00% | 15.80% | 15.80% |
| Public | 27.00% | 27.80% | 27.90% |
About Tata Power:
Tata Power Company Limited (NSE: TATAPOWER), a leading integrated power company, has a diversified 15.5 GW portfolio across generation, transmission, distribution, and storage. It is committed to carbon neutrality by 2045, with 6.7 GW of clean energy generation.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
