Tata Power up 1.8% on securing a solar contract

Internet Desk | Updated on June 19, 2020

Tata Power on Friday announced that its arm Tata Power Renewable Energy Limited had received a letter of award from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to develop a 100 MW solar project in Maharashtra.

The energy will be supplied to MSEDCL under a power purchase agreement, valid for a period of 25 years from scheduled commercial operation date.

The company has won this capacity in a bid announced by MSEDCL under Phase V dated December 2019. The project is required to be commissioned within 18 months from the date of execution of the PPA.

Tata Power’s renewable capacity will increase to 3,557 MW, out of which 2,637 MW is operational, and 920 MW is under implementation including 100 MW won under this award.

The shares of the company have gained 1.8 per cent to trade at Rs 43.75.

Published on June 19, 2020

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