Tata Power jumps 4%, hits new high as solar arm wins multiple orders

Shares of Tata Power hit a new high at Rs 198.70, up nearly 4 per cent in Tuesday’s intra-day trade in an otherwise range-bound market after Tata Power Solar received EPC orders worth Rs 538 crore from Energy Efficiency Services Limited (EESL) to set-up multiple distributed ground mounted solar projects totalling 100 MW.

Tata Power Solar Systems (Tata Power Solar), one of India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received “Letter of Award” (LoA) to build 100 MW of distributed ground mounted Solar projects for EESL, the company said in a press release. The total order value of the projects is Rs 538 crore. The commissioning date of the projects is set for 12 months, it added.