Marathon to Go Green has picked up steam, as seen from the recent AGM of India's biggest private company, Reliance. The financial years 2022 and 2023 have been significant for green energy capacity addition. During the previous two years, renewable energy accounted for more than 80% of capacity additions, and in the first quarter of the current fiscal year, more than 70% of capacity additions were from renewable energy.

Tata Power delivered the 15th consecutive quarter of PAT growth based on strong performance across all business clusters. The company doubles down on its green energy transition through a planned capex of Rs. 12000 for the current financial year. The capex will help them lead the green energy transition and create growth opportunities in the transmission and distribution business.

In the latest earnings report release, the company mentioned signing a MoU with the Government of Maharashtra to develop 2,800 MW of pumped hydroelectric storage projects in Pune and Raigad districts. The company has so far, in the first quarter of 2024, won around 1,214 MW of projects.

Tata Power Renewable Energy Limited (TPREL), through its subsidiary TP Vardhaman Surya Limited, received a Letter of Award ("LOA") to set up 966 MW of round-the-clock hybrid renewable power for Tata Steel. The total renewables capacity of TPREL stands at 7,783 MW, with an installed capacity of 4,127 MW (solar: 3,137 MW, wind: 990 MW) and 3,656 MW under various stages of implementation. The company's rooftop solar business reported 87% growth in residential business in Q1 FY24 to 18 M.W.

Following the result declaration, Tata Power has won many deals, the latest with Neosym Industry Limited. TPREL, a leading renewable energy company and a subsidiary of Tata Power Limited, signed a Power Delivery Agreement (PDA) with Neosym Industry Limited (Neosym), a leading Gray & S.G. Iron casting manufacturing company in India, for the 26 M.W. A.C. Group Captive Solar Plant. The project, located at Jamkhed, Ahmednagar, in Maharashtra, with an anticipated electricity generation capacity of 59 million units annually, will start in March 2024. The plant is expected to reduce 32,500 metric tons of CO2 emissions annually.

TPREL, by the end of August, had partnered with Sanyo Special Steel Manufacturing India Private Limited (SSMI) to set up a 28.12-megawatt green energy plant in Maharashtra. In a statement, the company said it had signed the Power Delivery Agreement (PDA) with SSMI through its Special Purpose Vehicle (SPV) T.P. Alpha Limited. "TPREL joins hands with SSMI for setting up of 28.125 MW A.C. (39.375 MWp) captive solar plant in Aachegaon under the district of Solapur, Maharashtra. The plant is expected to produce 61.875 million units of electricity annually, which would meet the energy requirement of the steel manufacturing unit of SSMI.

The stock touched Rs. 262.50 intraday making it 52 week high.