Tata Power Renewable Energy

Tata Power Ltd shares are under the radar, on Tuesday, after its renewable energy arm entered into an agreement with Tata Motors for a solar power project.

Tata Power said that BlackRock Real Assets and Abu Dhabi's Mubadala Investment Company would invest Rs. 4000 crore ($525.76 million) in the company's renewable energy unit for a 10.53% stake.

Power stocks surge with an expectation of high demand during summer.

Tata Power Renewable solar project: It is spread across 756 acres and the installation is expected to reduce 3.34 lakh tonnes of carbon emission on an annual basis.

Tata Power Renewable Energy Ltd (TPREL), an arm of Tata Power, has completed 100 per cent share purchase in Welspun Renewable Energy Pvt Ltd (WREPL) and its subsidiaries.

The company generates power from various fuel sources such as thermal (coal, gas and oil), hydroelectric power, renewable energy (wind and solar) and waste heat recovery, thereby, reinforcing its position as the largest integrated power company in India.

The proceeds will be used primarily to prepay existing high cost debt in TPREL, Tata Power said in a filing to BSE.

S&P Global Ratings on Tuesday said its corporate credit rating on Tata Power Ltd is not immediately affected by the company's acquisition of renewable assets company Welspun Renewables Energy Pvt Ltd.

Renewable energy business is a high-growth area in India, though falling asset prices and competitive bidding for new power purchase agreements may lead to volatility in returns on investments, S&P Global Ratings said on Tuesday.

Tata Power's acquisition of Welspun Renewable Energy can negatively impact the former's credit metrics, which are already tight at the current rating level, Moody's Investors Service said on Monday.

Welspun Renewable Energy has around 1,140 mega watt of renewable projects comprising about 990 MW solar power projects and about 150 MW of wind power projects.

Tata Power on Monday said it will buy Welspun Energy's subsidiary, Welspun Renewable Energy Pvt Ltd (WREPL), at an enterprise value of Rs 9,249 crore.

Tata Power Renewable Energy on Thursday announced that it has won two solar grid-connected photovoltaic projects of 50 MW capacity each in Karnataka.

Tata Power has decided to increase the share of its renewable energy output to 30-40 per cent by 2025, up from its earlier target of 20 per cent, a top company official has said.

Tata Power arm TPREL has signed a pact with Indo Rama Renewables Ltd (IRRL) to acquire its 100 per cent subsidiary IRRJL, which owns a 30 MW wind farm in Sangli District of Maharashtra.

Tata Power Ltd shares are under the radar, on Tuesday, after its renewable energy arm entered into an agreement with Tata Motors for a solar power project.

Tata Power said that BlackRock Real Assets and Abu Dhabi's Mubadala Investment Company would invest Rs. 4000 crore ($525.76 million) in the company's renewable energy unit for a 10.53% stake.

Power stocks surge with an expectation of high demand during summer.

Tata Power Renewable solar project: It is spread across 756 acres and the installation is expected to reduce 3.34 lakh tonnes of carbon emission on an annual basis.

Tata Power Renewable Energy Ltd (TPREL), an arm of Tata Power, has completed 100 per cent share purchase in Welspun Renewable Energy Pvt Ltd (WREPL) and its subsidiaries.

The company generates power from various fuel sources such as thermal (coal, gas and oil), hydroelectric power, renewable energy (wind and solar) and waste heat recovery, thereby, reinforcing its position as the largest integrated power company in India.

The proceeds will be used primarily to prepay existing high cost debt in TPREL, Tata Power said in a filing to BSE.

S&P Global Ratings on Tuesday said its corporate credit rating on Tata Power Ltd is not immediately affected by the company's acquisition of renewable assets company Welspun Renewables Energy Pvt Ltd.

Renewable energy business is a high-growth area in India, though falling asset prices and competitive bidding for new power purchase agreements may lead to volatility in returns on investments, S&P Global Ratings said on Tuesday.

Tata Power's acquisition of Welspun Renewable Energy can negatively impact the former's credit metrics, which are already tight at the current rating level, Moody's Investors Service said on Monday.

Welspun Renewable Energy has around 1,140 mega watt of renewable projects comprising about 990 MW solar power projects and about 150 MW of wind power projects.

Tata Power on Monday said it will buy Welspun Energy's subsidiary, Welspun Renewable Energy Pvt Ltd (WREPL), at an enterprise value of Rs 9,249 crore.

Tata Power Renewable Energy on Thursday announced that it has won two solar grid-connected photovoltaic projects of 50 MW capacity each in Karnataka.

Tata Power has decided to increase the share of its renewable energy output to 30-40 per cent by 2025, up from its earlier target of 20 per cent, a top company official has said.

Tata Power arm TPREL has signed a pact with Indo Rama Renewables Ltd (IRRL) to acquire its 100 per cent subsidiary IRRJL, which owns a 30 MW wind farm in Sangli District of Maharashtra.