Tata Power reportedly signs PPA with Gujarat Govt for Mundra Power plant, shares jump 5%

Tata Power reportedly signs PPA with Gujarat Govt for Mundra Power plant, shares jump 5%

Shares of Tata Power gained 5 per cent to hit a fresh 52-week high on Friday amid reports that Gujarat has approved a revised power supply pact with Tata Power. The stock started the trading session at Rs 402, up from the previous close of Rs 398.50 on the BSE. The scrip gained further amid a spurt in trading volume by more than 2.80 times and touched the intraday high of Rs 418.4, representing a gain of 4.99 per cent. This is also the stock's f…

Tata Power set to resume long-term supply after Gujarat clears pact

GUJARAT has approved a revised power supply agreement with Tata Power, allowing the company to resume long-term supply from its 4-gigawatt Mundra plant, according to a government document seen by Reuters.The imported coal-fired plant has not operated for the past six months after the government last year withdrew the emergency clause that compensates companies for generating power using imported coal.The agreement comes as India seeks to maximis…

Gujarat Clears Revised Pact for Tata Power’s Mundra Plant Revival

Gujarat has approved a revised power supply agreement with Tata Power, paving the way for the resumption of long-term electricity generation from its 4-gigawatt Mundra plant, according to a government document reviewed by Reuters. The imported coal-based facility had remained idle for the past six months after the withdrawal of an emergency compensation clause that previously offset the high cost of imported coal. The renewed agreement comes at …

Tata Power to restart Mundra plant after new deal, aims to end losses

The restart follows approval of a Supplemental Power Purchase Agreement by the Gujarat government.