Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company, has commissioned one of the country’s largest floating solar projects.

What Happened: The Omkareshwar Floating Solar Project, boasting a capacity of 126 megawatts, is among the largest of its kind in India. The project was completed within 26 months in the Khandwa district of Madhya Pradesh. The contract worth ₹ 596 crore was awarded by NHDC Limited to TPREL.

The project comprises 213,460 bifacial glass-to-glass modules, generating 204,580-megawatt hours of energy annually and offsetting 173,893 tonnes of CO ₂ emissions each year. With this project, TPREL's total renewable energy capacity now stands at 10.9 gigawatts, with 5.6 gigawatts of projects in various stages of implementation.

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On Tuesday, the Life Insurance Corporation of India said it had reduced its stake in the Tata Group company. LIC currently holds 3.88% of the company. Its previous holding in the company was at 5.90%.

Last month, the company posted a net profit of ₹1,093 crore in the quarter ended September, up 7.5% from the ₹1,017.41 crore it earned in the same quarter a year ago.

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