Tata Power arm receives LoA for 200 MW solar project from MSEDCL

Tata Power Company said that its subsidiary Tata Power Renewable Energy (TPREL) has received letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) to setup a 200 MW solar PV project in Solapur, Maharashtra.

The total renewables capacity of TPREL reaches 6,503MW with an installed capacity of 3,909 MW (Solar - 2,981 MW & Wind - 928 MW) and 2,594MW under various stages of implementation.

Ashish Khanna, chief executive officer (CEO), Tata Power Renewable Energy, said, We have a current countrywide portfolio of more than 6.5 GW and securing yet another Letter of Award' for setting up a 200 MW solar PV project underlines the trust and confidence MSEDCL has in our execution and engineering capabilities. We are confident that this project will further strengthen our position as a leader in providing clean and reliable power in the state for years to come."

Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,002 MW The company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.

The company's consolidated net profit soared 121.9% to Rs 945.02 crore in Q3 FY23 as against Rs 425.81 crore in Q3 FY22. Net sales jumped 29.5% year on year to Rs 14,129.12 crore in the quarter ended 31 December 2022.

The scrip was up 0.62% to Rs 203.50 on the BSE.

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