Introduction:
Major renewable energy company has successfully commissioned a 431 MW DC solar project in Neemuch, MP. The installation incorporates advanced technology, boosting efficiency and contributing significantly to reducing CO₂ emissions.
Also Read: IT stock hits 5% upper circuit after it partners with central bank of India
Share price movement of Tata Power:
On December 3, 2024, Tata Power Company Ltd opened at ₹419.00, up 0.69% from its previous close of ₹416.15. The stock reached a high of ₹430.20 (3.38%) and a low of ₹417.50. By 3:42 PM, it traded at ₹428.80, a 3.04% increase, with a market cap of ₹1,37,016.16 crore.
Tata Power Commissions 431 MW DC Solar:
Tata Power Renewable Energy Ltd has successfully commissioned a 431 MW DC solar project in Neemuch, Madhya Pradesh. The project, spanning 1,635.63 acres, is one of India’s most cost-effective solar installations, setting a new industry benchmark.
The project features cutting-edge technology, incorporating single-axis trackers and bi-facial modules. This unique combination has enhanced system efficiency by over 15%, ensuring extended peak power supply. The solar installation is expected to offset approximately 7,80,300 tonnes of CO₂ annually.
Built to support Western Central Railways and MP Power Management Co. Ltd., the project overcomes challenges such as rocky terrain and remote site logistics. It marks a significant step forward for India’s renewable energy sector and reinforces TPREL’s leadership in the industry.
Recent news on Tata Power:
As of 21 Nov 2024, Tata Power signed an MoU with the Asian Development Bank to finance clean energy projects worth $4.24 billion, focusing on solar-wind hybrids, pump storage, decarbonization, and battery storage initiatives.
Stock performance of Tata Power for Period of 1 week, 6 months and 1 year:
Tata Power has shown strong performance with a 1.51% return over the past week and an impressive 47.9% gain in the last year, despite a 3.49% decline over six months, highlighting its robust long-term growth potential.
Also Read: Green energy stock jumps 4% after it receives order for solar PV plant from Coal India
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 Ltd (NSE: TATAPOWER) is India’s largest vertically-integrated power company, focusing on electricity generation, transmission, and distribution. It emphasizes renewable energy, manufactures solar roofs, and aims to establish 1 lakh EV charging stations by 2025.
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.
