Tata Power gains 2% after bagging solar project in Gujarat

Tata Power will supply the energy to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date.

Shares of Tata Power rallied nearly 2 percent intraday on May 30 after the company bagged 100 MW solar project in Gujarat.


The company in its exchange release said it received a contract from Gujarat Urja Vikas Nigam Limited to develop a 100 MW solar project in Raghavendra Solar Park of Gujarat.

Tata Power will supply the energy to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date.

The project will be carried out by the company's subsidiary Tata Power Renewable Energy Limited and has to be commissioned within 15 months from the date of execution of the PPA.

The bid for the project was announced earlier this year in March.

At 1132 hrs, Tata Power was quoting Rs 69.90, up 1.9 percent on the BSE.

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