Shares of Tata Power Trading Higher on 29 November after the company announced that its subsidiary was awarded the contract for a 200-megawatt project.

In its regulatory filing, the company said that a subsidiary of the company, Tata Power Renewable Energy Limited, has secured the job to develop a 200-megawatt firm and dispatchable renewable energy project with SJVN. The plan has been sized with a hybrid combination of wind, solar, and battery storage of proper capacity.

The project has to be commissioned within 24 months from the power purchase agreement execution date.

Firm and dispatchable renewable energy provides round-the-clock power supply and supports the discoms in meeting Energy Storage Obligation and Renewable Purchase Obligations.

This will be the first firm and dispatchable renewable energy power tender won by Tata Power Renewable Energy Limited that includes a greenshoe option, which allows for additional capacity beyond the initial 200 megawatts.

With this order win, the total renewable capacity of Tata Power Renewable Energy Limited has reached a total of 8,314 megawatts, comprising 4,100 megawatts of projects that are in different stages of development and an operating capacity of 4,214 megawatts, from which 3,200 megawatts are solar projects and 1,014 megawatts are wind projects.

At 3:30 pm, the shares of Tata Power closed 0.87% higher at Rs 273.15 on NSE.