Tata Communications and Tata Power join forces for a sustainable future

About the project

After the pressure from the last three to four trading sessions, the BSE Power Index closed in green today at 6,428.35, up by 1.81%.

Tata Power Company also closed in green today as their subsidiary Tata Power Renewable Energy Limited (TPREL) and Tata Communications have inked a groundbreaking partnership, paving the way for a greener future. The signing of a Power Delivery Agreement (PDA) valued at Rs 105 crore signifies the development of an 18.75 MW AC group captive solar power plant, marking a significant leap forward in both companies’ sustainability journeys.

Key Highlights

  • The plant, located in Aachegaon, Maharashtra, will generate approximately 40 million units of power annually, offsetting an impressive 30,000 tons of CO2 emissions.
  • This initiative reinforces Tata Communications’ commitment to environmental responsibility by incorporating renewable energy into its operations.
  • This project serves as a powerful example for the entire sector, showcasing the feasibility and vast benefits of adopting sustainable energy practices.
  • TPREL emphasises its role in supporting India’s ambitious net-zero carbon emissions target by 2070 through such group captive projects.
  • This collaboration adds to TPREL’s surpassing of 1.5 GW capacity in group captive projects across diverse industries.

Share Price Movement

In the last trading session, the stock closed at Rs 365.05. Today, it opened at Rs 364.30 and closed at Rs 374.10, up by 2.48%. The company’s 52-week high stands at Rs 412.90, while its 52-week low stands at Rs 182.45. Currently, the company boasts a market capitalisation of approximately Rs 1,19,300 crore. Looking back over the past year, the company’s shares have yielded a staggering return of 83.90%, in the same time frame BSE Power has changed by 87.30%.

About the company

Tata Power is primarily involved in the business of the generation, transmission and distribution of electricity. The company is also manufacturing Solar Panels and next-gen power solutions like EV Charging Solutions and Home Automation to integrated energy solutions (ESCO). It aims to produce electricity completely through renewable sources. The company is India’s largest vertically integrated power company.

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.