Tata Power enters an arrangement with Chalet Hotels

4 Sep 2023 , 02:26 PM

After the business secured a deal for a 6 MW AC project with Chalet Hotels, the share price of Tata Power business increased 1% to reach a 52-week high of Rs 258.45 in the early trade on September 4.

Tata Power Renewable Energy Limited (TPREL), a business subsidiary, and Chalet Hotels inked a power delivery agreement (PDA) for a captive project requiring 6 MW AC.

According to this agreement, the facility will produce 13.75 million units of clean energy from renewable sources.

With the world leader in the automotive systems and parts sector, ANAND Group, TPREL inked a group PDA for a 4.4-MW AC.

As part of the agreement, TPREL will help produce 10 million units of clean energy from renewable resources. In keeping with its commitment to provide a better and cleaner future for its Commercial and Industrial (C&I) customers, the business stated that it expects the project to remove around 5,500 tonnes of carbon emissions each year.

The company also entered into a power purchase agreement with Tata Motors Limited Pantnagar facility in Uttarakhand for a 9MWp on-campus solar plant.

Within six months, the project will be put into operation, and installation will involve both rooftop and ground-mounted units.

The Department of Scientific and Industrial Research (DSIR) has granted Tata Power Delhi Distribution Ltd (Tata Power-DDL) a three-year extension for its internal R&D unit until 2026.

A joint venture between Tata Power and the NCT of Delhi’s government is known as Tata Power Delhi Distribution Ltd. DSIR is a division of the Ministry of Science and Technology, although the Indian government.

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