Tata Power Share Price: Tata Power has signed a long-term agreement with Noida International Airport (NIA) to supply renewable energy to the airport operator. Under this partnership, Tata Power will invest Rs 550 crore in solar and wind energy. Tata Power entered into a strategic partnership on Thursday with the signing of two power purchase agreements (PPAs) for wind and solar energy supply.

What is Tata Power's plan regarding Noida International Airport?

The entire renewable energy portfolio interface will be managed by Tata Power Trading Company Limited (TPTCL). This will ensure that NIA's clean energy needs are met through a comprehensive agreement. As part of the deal, TPTCL will supply 10.8 MW of wind power to NIA, including assets secured from Tata Power Renewable Energy Limited (TPREL).

TPREL will also develop, operate, and maintain 13 MW of onsite solar power capacity to meet the airport's energy requirements. Tata Power has also committed to developing critical dry utilities, including the necessary electrical infrastructure, and providing operations and maintenance services for this infrastructure over 25 years.

Tata Power Share Price Target 2025: Tata Power Share Price Target 2025

According to Sharekhan, "Tata Power has a well-planned strategy to move towards clean energy and aims to grow its PAT by 2x by FY27E compared to FY23E. We recommend BUY on Tata Power with an unchanged PT of Rs 540 on a SOTP basis."