Why Tata Power Shares Are On The Rise Today

Tata Power shares were on the rise on Friday after the company confirmed a partnership with Italian green energy giant, Enel Group, to improve the digitalisation and automation of India’s power distribution network.

What Happened? As part of the partnership, the power generation giant implemented two key pilot projects through Tata Power's Delhi-based distribution business.

Under the partnership, Tata Power's distribution arm, Tata Power Delhi Distribution (TPDDL), will work closely with Enel Group affiliate company, Gridspertise, on project implementation, the organisations added in a joint statement.

Per both companies, the first pilot project will focus on accelerating digitalisation and automation of secondary substations and see Tata Power joining the international co-creation programme of Gridpertise’s proprietary ‘QEd’ aka ‘Quantum Edge Device’.

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Enel Group clarifies that this collaborative programme will virtualise Tata Power’s grid functionalities and enable protection and control, automation, real-time fault detection and service restoration of the network.

The other project is aimed at deploying Gridpertises’ metering technology on a pilot basis in the Delhi power distribution network. It focuses on testing and evaluating the new hybrid smart metering technology featuring dual communication channels, via hybrid Power Line Communication (PLC) and Radio Frequency (RF).

Price Action: Tata Power shares were trading 1.73% higher at ₹209.15 on Friday, shortly after markets opened for trading.

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Posted In: Enel GroupGreen Energypower distributionTata Power