Tata Power-DDL signs PPA with NTPC Vidyut Vyapar Nigam
The collaboration will help Tata Power-DDL expands its Green portfolio.
Hydro PPA (Power Purchase Agreement) with NTPC Vidyut Vyapar Nigam
Tata Power Delhi Distribution (Tata Power-DDL), a joint venture between Tata Power and the Government of NCT of Delhi, has signed its first medium-term Hydro PPA (Power Purchase Agreement) with NTPC Vidyut Vyapar Nigam (NVVNL) to meet the projected peak demand.
Corresponding to the agreement, NVVNL will supply power to Tata Power-DDL for the next five years during the summer months (May to September), beginning from May 1, 2023. The collaboration will help Tata Power-DDL expands its Green portfolio.
The discom envisioned various policy decisions emphasizing increasing reliance on non-fossil resources and reaffirming its commitment to making a greener planet. Further, considering the prevailing summer period, Tata Power-DDL has made adequate power arrangements to ensure the sufficiency of power supply in its area of operations.
Stock price movement
Today, the stock opened at Rs 197.05 and has touched a high and low of Rs. 198.15 and Rs. 196.60 respectively. The BSE group 'A' stock of face value of Rs 1 has touched a 52-week high and low of Rs 269.30 and Rs 182.45, respectively. Last one week high and low of the scrip stood at Rs 198.65 and Rs 194.25 respectively. The current market cap of the company is Rs 63,012.10 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 24.27% and 28.85% respectively.
Tata Power is India’s largest integrated power company. The company is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. It also manufactures solar roofs and plans to build 1 lakh EV charging stations by 2025.
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