Tata Power Shares will be in spotlight on Tuesday after its step-down subsidiary TP Solar inked Rs 455 crore deal with the Maharashtra State Power Generation Company (MSPGCL) for supplying 300 MWp of solar modules. As per the statement of the company, these modules will be provided across Maharashtra this year only.
The contract is within the larger 750 MWp CSP tender by MSPGCL and was let through a competitive e-Reverse Auction (eRA). The manufacturer of the solar modules involved in the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 project is TP Solar from Tata Power Renewable Energy Limited(TPREL), a company that deals with ALMM-certified modules.
TP Solar also has India’s single largest solar cell and module manufacturing plant in the district of Tirunelveli, Tamil Nadu. Solar cells and modules have a combined production capacity of 4.3 GW each, with provisions for future additionality.
TPREL, an arm of Tata Power, has committed nearly INR 4300 crores to set up the plant that would help in building the solar manufacturing ecosystem in India in the value chain towards achieving the objective of indigenous manufacturing of solar cells and modules.
It implements the most efficient TOPCon and Mono PERC and generates ALMM-compliant and DCR modules featuring Indian cells. Tata Power said that its wholly owned unit TP Solar has been awarded a Rs 455 crore deal with the Maharashtra State Power Generation Company.
This is the distribution deal of solar modules amounting to 300 MWp within Maharashtra this year. The modules fall under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 project Mukhyamantri Saur Krushi Vahini Yojana 2.0.
It is out of a larger 750 MWp tender by MSPGCL, where the Minnesota utility selected the developers through its newly implemented e-Reverse Auction system. For the project, the Indian-authorized solar module manufacturer and supplier, TP Solar, a subsidiary of Tata Power Renewable Energy Ltd., will supply ALMM-compliant solar modules.
Market Reaction
Following the announcement of the ₹455 crore order, Tata Power’s shares witnessed a positive uptick in the stock market. Investors responded favorably to the news, reflecting confidence in the company’s growth trajectory and its ability to execute large-scale renewable projects.
The stock price increased by approximately 3%, indicating strong investor sentiment and optimism regarding future earnings potential.