Shares of Tata Power Company are in focus today after the firm said it won a Letter of Award (LoA) from the Solar Energy Corporation of India Ltd. (SECI) to provide pumped storage services from a 324 MW / 2,592 MWh Pumped Storage Plant (PSP).
Tata Power shares closed 0.03% lower at Rs 377.00 on Friday. Market cap of the firm stood at Rs 1.20 lakh crore.
The stock is neither oversold nor overbought on charts, signals its relative strength index (RSI), which stands at 38.6. In terms of price action, the stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, 200 day moving averages.
SECI, a Government of India enterprise has awarded the LoA for providing energy storage services from the PSP for a period of 40 years from the scheduled commencement of supply at an agreed fixed annual charge and cycle loss. SECI will sign a Pumped Storage Purchase Agreement (PPA) with Tata Power after signing a Pumped Storage Sale Agreement with the buying entities.
Under the terms of the award, Tata Power will provide energy storage services from its 324 MW/2,592 MWh pumped storage project. The company is expected to operationalise the facility and begin supplying the contracted storage capacity within 36 months from the effective date of the power purchase agreement (PPA).
The project has been awarded at an annual fixed charge of Rs 1.0841826 crore per MW. Based on the contracted capacity of 324 MW, Tata Power stands to earn an annual fixed charge of approximately Rs 351.3 crore. The project also factors in an annual cycle loss of 24.61%, in line with the bid conditions.
As of mid-2026, Tata Power’s solar EPC and renewable order book stood at Rs 16,300 crore.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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