Tata Power share price in focus as arm signs agreement with Tata Motors
Tata Power share price opens nearly a percent higher a day after the company announced its subsidiary Tata Power Renewable Energy has signed a Power Purchase Agreement (PPA) for 9MWp on campus solar plant with Tata Motors Pantnagar plant in Uttarakhand. Tata Power share price started the day at ₹241.50, up ₹2.15, or 0.90%, against yesterday's closing price of ₹239.35.
This solar plant will be the largest on-campus solar facility in the State. In an earlier partnership, Tata Power Renewable Energy and Tata Motors had established a 7 MWp solar project at the Pantnagar manufacturing facility.
After the recent facility addition, Tata Motors Pantnagar plant’s combined solar capacity will be 16 MWp. The solar plants will generate annually 224 lakhs units which will meet nearly 60% of their annualized requirement, the company said in a regulatory filing.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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