Tata Power Renewable Energy Limited (TPREL) has entered a strategic partnership with Dugar Power Private Limited to enter Nepal’s renewable energy segment.
What Happened: On Wednesday, Tata Power Renewable Energy announced its alliance with Dugar Power, marking its debut in Nepal’s emerging renewable energy market, according to an exchange filing.
This partnership will enable Dugar Power, a subsidiary of Nepal’s Dugar Group, to leverage advanced sustainable energy solutions. The collaboration aims to provide both on-grid and off-grid energy solutions leveraging innovative solar technologies.
Why It MattersThis alliance aligns with Nepal’s varied energy needs, delivering scalable solutions from 1 kilowatt to megawatt levels. The arrangement also offers Tata Power Renewable Energy the opportunity to broaden its offerings in Nepal, including supply cells and modules, engineering, procurement and construction, and operations and maintenance.
“This partnership with Dugar Power is a strategic alliance engineered to redefine Nepal’s energy landscape. As we make our entry into Nepal’s promising renewable energy market, we intend to generate a transformative impact,” said Ashish Khanna, CEO of Tata Power Renewable Energy.
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Abhishek Dugar, managing director of Dugar Power, echoed similar sentiments, stating, “This partnership is a testament to our unwavering commitment to propel Nepal toward a sustainable energy future.”
The alliance could stimulate economic growth in Nepal by creating jobs and attracting investment in the renewable energy sector. In addition, it could contribute to the country’s efforts to transition from reliance on fossil fuels to renewable energy sources.
Price Action: Despite the deal, Tata Power’s share price was still down 1.97% at ₹256.85 in late afternoon trade on Thursday.
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