Shares of Tata Power Hit a 52-week high of Rs 262.50 on 5 September as the company’s arm signed a Power Deliver Agreement (PDA) with Neosym Industry.

Tata Power Renewable Energy Limited has signed a Power Delivery Agreement with Neosym Industry for a 26-megawatt AC Group Captive Solar plant.

The company said the plant located at Jamkhed, Ahmednagar in Maharashtra, which has an electricity generation capacity of 59 million units annually, will start in March 2024.

The company expects to reduce 32,500 tonnes of CO2 emissions through this plant annually.

Ashish Khanna, CEO of Tata Power Renewable Energy Ltd, said, “This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I consumers. The Jamkhed project is a step towards enhancing renewable energy capacity and reducing carbon emissions in the country,”

On 2 September, Tata Power Renewable Energy signed a PDA for a 6-megawatt AC with Chalet Hotels.

In August, the company signed a PDA with global automotive systems and parts industry leader ANAND Group for 4.4 megawatt AC.

The company also signed a power purchase agreement for a 9-megawatt on-campus solar plant at Tata Motors Ltd Pantnagar Plant in Uttarakhand.

At 12:10 pm, the shares of Tata Power were trading at Rs 258.80 or 0.14% below its previous close on NSE.