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.
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.
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…
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…
BEST petitioned the Maharashtra Electricity Regulatory Commission (MERC) to terminate its power purchase agreement with Tata Power‘s Trombay Unit 5, citing high energy charges ranging from Rs 8 to Rs 11 per unit. BEST argued that these tariffs were burdening 1.08 million consumers in Mumbai. However, MERC dismissed the plea, highlighting transmission constraints in sourcing power from outside Mumbai, necessitating Tata Power’s embedded generation for a secure supply. During a recent bidding, Sai Wardha Power…
Tata Power Limited has received a letter of intent (LoI) from REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited, to acquire the special purpose vehicle (SPV) ERES-XXXIX Power Transmission Limited. The project, to be developed on a build-own-operate-transfer (BOOT) basis, will offer transmission services for 35 years starting from the commercial operation date scheduled for December 31, 2027. The project includes the construction of a 2×1500 MVA, 765/400 kV gas-insulated switchgear…