Tata Power Inks ₹550 Cr Deal With Noida International Airport To Supply Renewable Energy
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Tata Power has signed a long-term agreement with Noida International Airport (NIA) to supply renewable energy to the airport operator. The partnership, worth ₹550 crore, will see Tata Power investing in solar and wind power supply.

What Happened: The strategic partnership was forged on Thursday with the signing of two power purchase agreements (PPAs) for wind and solar power supply, according to a regulatory filing by Tata Power.

See Also: Trent Slumps 5% After Q2 Net Profit, Revenue Miss Analysts’ Estimates

The complete renewable energy portfolio interface will be managed by Tata Power Trading Company Limited (TPTCL). It will ensure NIA’s clean energy needs are met through a comprehensive agreement. As part of the deal, TPTCL will supply 10.8 megawatts of wind power for NIA, with assets secured from Tata Power Renewable Energy Limited (TPREL).

TPREL will also develop, operate, and maintain a 13-megawatt onsite solar power capacity to meet the airport’s energy needs. Tata Power has also committed to developing critical dry utilities, including essential electrical infrastructure, and will provide operation and maintenance services for this infrastructure over 25 years.

Read Next: Rupee At All-Time Low: Why Trump’s Win Might Drag It Even Lower


Engineered by Benzinga Neuro, Edited by Ananthu CU


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesNewsMarketsTata Power