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Tata Power and Druk Green to develop 5,000 MW clean energy in Bhutan

India, News

Tata Power Company Ltd and Druk Green Power Corporation Ltd (DGPC) have entered into a partnership to develop at least 5,000 MW of renewable energy capacity in Bhutan. This collaboration, supported by the Royal Government of Bhutan and the Government of India, marks the largest clean energy partnership between the two nations and aims to strengthen regional energy security and accelerate the clean energy transition. The agreement, signed in Thimphu in the presence of Bhutan’s…

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Tata Power acquires SPV for ERES-XXXIX project

India, News

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has transferred the special purpose vehicle (SPV), ERES-XXXIX Power Transmission Limited, to Tata Power Company Limited through a tariff-based competitive bidding process. The project involves establishing a 765/400 kV, 2×1500 MVA gas-insulated switchgear substation at Gopalpur in Odisha, along with 199 km of 765 kV transmission lines and 25 km of 400 kV lines, including associated works.  The project will be…

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Tata Power commissions 126 MW floating solar project in Madhya Pradesh

India, News

Tata Power Renewable Energy Limited (TPREL) has commissioned a 126 MW Omkareshwar floating solar project in the Khandwa district of Madhya Pradesh.  The Rs 5.96 billion engineering, procurement, and construction (EPC) project was awarded by NHDC Limited and will supply power to the Madhya Pradesh Power Transmission Company Limited (MPPTCL).  Completed within 26 months, this installation is among India’s largest floating solar projects, marking a significant milestone in the country’s renewable energy sector. With this…

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Tata Power to invest Rs 5.5 billion in renewable energy for Noida Airport

India, News

Tata Power has committed Rs 5.5 billion towards establishing solar and wind power capacities to supply clean energy to Noida International Airport (NIA) in Uttar Pradesh.  The company has signed two power purchase agreements with NIA, supporting the airport’s sustainable energy infrastructure. Through its subsidiary, Tata Power Trading Company (TPTCL), Tata Power will provide 10.8 MW of wind energy, while Tata Power Renewable Energy (TPREL) will develop, operate, and maintain a 13 MW onsite solar…

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Tata Power acquires Paradeep Transmission for ERES XXXIV Expansion

India, News

Paradeep Transmission, a wholly-owned subsidiary of PFC Consulting created to develop the Eastern Region Expansion Scheme-XXXIV (ERES XXXIV), has been transferred to Tata Power Company.  The sale and transfer process to Tata Power, the successful bidder, was finalized on 06 November 2024. The sale consideration was determined as per guidelines set by the Ministry of Power, Government of India.

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Tata Power reports Rs 10.93 billion net profit in Q2, up 7.47% YoY

India, News

Tata Power Company Limited posted a net profit of Rs 10.93 billion for the quarter ending September 2024, marking a 7.47 per cent rise from Rs 10.17 billion in the same period last year.  The company’s total income grew by approximately 1.13 per cent to Rs 162.11 billion in Q2 FY2024, up from Rs 160.3 billion in the corresponding quarter of the previous year.

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Tata Power reduces AT&C losses in Odisha distribution business in H1 FY25

India, News

Tata Power reported reduced Aggregate Technical & Commercial (AT&C) losses in its Odisha power distribution business during the first half of FY25.  The investor presentation indicated improvements in two of the four discoms, TPCODL and TPSODL, while AT&C losses in TPWODL remained constant and slightly increased in TPNODL.  Overall, AT&C losses across the Odisha discoms, weighted by electricity purchase volume, decreased to 22.6% in H1 FY25 from 23.9% in H1 FY24. Electricity purchases rose to…

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Tata Power’s board approves Rs 56.66 bn to set up 1,000 MW PSP

India, News

Tata Power‘s board has approved an investment of Rs 56.66 billion to develop a 1,000 MW pumped storage hydro project in Bhivpuri, Maharashtra.  The project is slated for completion over 44 months, with financing structured as 75% debt and 25% equity.  This initiative will enhance Tata Power’s existing capacity of 15.2 GW. Pumped storage hydro projects play a crucial role in providing round-the-clock renewable energy solutions, aiding in the decarbonisation of industries that are challenging…

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Tata Power acquires 40% stake in 600 MW Bhutan hydropower project

India, News

Tata Power Company Limited (TPCL) has signed a share purchase agreement to acquire a 40% equity stake in Khorlochhu Hydro Power Limited (KHPL) for the development of a 600 MW hydropower project in Bhutan, valued at Rs 69 billion.  TPCL will invest approximately Rs 8.3 billion in cash over multiple tranches during the next five years.

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Tata Power partners with IndusInd Bank to finance solar installations for MSEs

India, News

Tata Power Renewable Energy (TPREL) has partnered with IndusInd Bank to provide collateral-free solar financing options for micro and small enterprises (MSEs), offering loans ranging from Rs 1 million to Rs 20 million.  This partnership aims to support MSEs in adopting solar energy, reducing operational costs, and contributing to the green energy transition. Both public and private lenders are increasingly collaborating with solar companies to offer financing for commercial and residential projects. Last week, Solex…