After the company’s subsidiary secured an order worth Rs 4,500 crore from NTPC for 200 MW dispatchable renewable projects, Tata Power’s share price will be closely watched.
Tata Power Renewable Energy, a division of Tata Power, has entered into a power buying agreement (PPA) with NTPC to build a 200 MW Firm and Dispatchable Renewable Energy project. The deal includes provisions for an assured power supply in accordance with NTPC’s scheduling requirements, the firm stated in an exchange filing. The project is expected to be finished in 24 months.
The Maharashtra Electricity Regulatory Commission gave the corporation permission a week ago to install a 100 MW Battery Energy Storage System (BESS) in Mumbai.
According to an exchange filing, “Tata Power’s Power System Control Center (PSCC) will centrally monitor and control the entire 100 MW system, which will be installed across 10 strategically located sites, particularly near load centers across Mumbai Distribution.”
In the event of grid disruptions, the state-of-the-art BESS technology’s sophisticated “black start” capability will allow for a prompt restoration of power supply to vital infrastructure, such as data centers, hospitals, airports, and the metro. This will improve the resilience of Mumbai’s electricity network and stop widespread blackouts. Furthermore, the advanced technology of the system will optimize reactive power management, enhancing the efficiency of peak demand and fortifying the city’s electrical infrastructure.
Tata Power Q3 result
In comparison to the same quarter last year, when it made Rs 1,076 crore, the company’s net profit for the quarter increased by 10.3% year over year to Rs 1,187 crore. In Q3 of FY25, revenue reached Rs 15,391 crore, a 5% YoY growth. Operating profit margins increased by more than 500 basis points to 21.8% from 16.5% the year before, while Tata Power’s earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 39% YoY to Rs 3,352 crore.
Tata Power’s stock performance
Over the past five trading sessions, the power stock of the Tata Group has dropped by more than 5.3%. Over the past month, the stock has increased by 0.6%. But during the last six months, it has dropped by more than 21%. Over the past year, Tata Power’s share price has dropped by more than 17%.