Tata Power shares are going to see action, the company acquired a big project

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Tata Power Share

Tata Power There is a possibility of seeing big action in the stock on Monday. Actually, the company has acquired the Bikaner-Neemrana transmission project. Bikaner-3 Neemrana-2 Transmission Ltd. The project is a special purpose vehicle (SPV). This unit has been formed by PFC Consulting.

Renewable energy infrastructure will increase

Tata said in a statement that the company has acquired the Bikaner-Neemrana transmission project to promote renewable energy infrastructure in India. The company received the letter of intent after successfully bidding in the tariff based competitive bidding process as per the guidelines of the Ministry of Power.

7000 MW renewable energy will be produced

Tata company will develop the Bikaner-Neemrana transit project on Build, Own, Operate and Deliver (BOOO) basis. This will enable transmission of 7,700 MW of renewable energy from the Bikaner complex in Rajasthan.

Transmission corridor will be established

The project involves the establishment of a 340 km long transmission corridor from Bikaner-3 pooling station to Neemrana-2 substation.

The company will maintain for 35 years

Tata Power will maintain the transmission project for 35 years. Its estimated cost is Rs 1,544 crore. It is expected to be operational within 24 months from the date of transfer of the Special Purpose Vehicle.

what is the condition of the stock

In the stock market closed on Friday, Tata Power shares closed at Rs 274.80 with a rise of 2.58 percent i.e. Rs 6.90. In the last 52 weeks, the company’s shares have reached a maximum level of Rs 278.50.

Disclaimer

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