Tata Power to Build a Solar Plant in Partnership With Neosym, Shares Up

Tata Power Renewable Energy Limited’s shares were up by 1.16 per cent to Rs. 262.15 after the company announced that it has entered into a Power Delivery Agreement (PDA) with Neosym Industry Limited. | Photo Credit: AP

Tata Power Renewable Energy Limited’s shares were up by 1.16 per cent to Rs. 262.15 after the company announced that it has entered into a Power Delivery Agreement (PDA) with Neosym Industry Limited, a manufacturer in Gray and S.G. Iron casting in India, to develop a 26 MW AC Group Captive Solar plant.

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This project, situated in Jamkhed, Ahmednagar, Maharashtra, is projected to generate a substantial 59 million units of electricity annually, commencing operations in March 2024. The solar plant is set to make an environmental impact by reducing approximately 32,500 metric tons of CO2 emissions annually, aligning with India’s commitment to combat climate change.

The shares were up by 1.16 per cent to Rs. 262.15 at 10 a.m. on the BSE.