Tata Power Renewable Energy Ltd. crossed the 1.4 gigawatt capacity of group captive projects in the last seven months, aided by the signing of power delivery agreements with various industries across segments.
Over the last six months, the subsidiary of Tata Power Co. has signed collaborations with Tata Steel Ltd., Tata Motors Ltd., Mukand Ltd., Supreme Petrochem Ltd., Xpro India Ltd., Neosym Industry Ltd., Chalet Hotels Ltd., Sanyo Special Steel Manufacturing India, Anand Group and Endurance Technologies Ltd., among others.
“Crossing the 1.4 GW mark is not just a milestone for us but a testament to our continuous dedication to sustainability and our contribution towards the country's green energy ambition," said Deepesh Nanda, chief executive officer and managing director, Tata Power Renewable Energy.
The company's overall renewables capacity as of October reached 7,961 megawatts, which comprises 3,755 megawatts of projects in different phases of development with an operating capacity of 4,206 megawatts, it said in its exchange filing.
To further add to the company's capacity, a huge pipeline of renewable projects is under finalisation, it said.
With 3.7 gigawatts of renewable orders, Tata Power will see a huge increase in order execution in the second half of the current financial year, according to Chief Executive Officer and Managing Director Praveer Sinha.
"In the next one year, we will do nearly 2.5 GW of solar plants. We are sitting on a good opportunity and will execute orders in the given time frame," Sinha told BQ Prime earlier.
Shares of Tata Power closed 0.69% down at Rs 260.75 apiece, as compared with a 0.21% decline in the benchmark BSE Sensex on Monday.
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