Last Updated: December 04, 2023, 15:32 IST
Shares of Tata Power jumped 4 per cent in early commerce on Monday morning after the corporate declared its profitable bid to amass the Bikaner-III Neemrana-II Transmission renewable power undertaking for about Rs 1,544 crore. This power undertaking is an SPV established by PFC Consulting Limited, a subsidiary of Power Finance Corporation.
A particular function automobile (SPV) or entity (SPE) is a subsidiary created by a guardian firm to segregate and handle particular monetary dangers.
It mentioned that the transmission undertaking, which can be developed on a construct-personal-function-switch (BOOT) foundation, will allow the evacuation of seven.7 GW of renewable power from the Bikaner Complex in Rajasthan. The undertaking entails the institution of a 340-kilometre transmission hall from the Bikaner-III pooling station to the Neemrana II substation.
Further, as per the submitting, upon profitable commissioning, the undertaking will turn out to be an important hyperlink within the roadmap unveiled by the Ministry of Power in 2022 for integrating over 500 GW of renewable power capability into the nationwide grid by 2030.
Since January 2023, shares of Tata Power have gained over 33 per cent in opposition to the Nifty 50’s rise of over 12 per cent.
