Shares of Tata Power gained nearly 2 percent in the early trade on Thursday after BEST extended the existing PPA with company.
Maharashtra Electricity Regulatory Commission (MERC) has allowed Brihanmumbai Electric Supply and Transport Undertaking (BEST) to extend
its existing Power Purchase Agreement (PPA) with the Tata Power Company for 677 MW supplied from its Trombay Thermal and Hydro plants
for a period of five years from April 1, 2019 to March 31, 2024.
BEST and Tata Power have agreed for an extension of PPA with existing terms and conditions
Praveer Sinha, CEO & Managing Director, Tata Power said, “Tata Power is committed to supplying the most reliable and competitive power
meeting the needs of BEST consumers, as always.”
At 09:16 hrs Tata Power Company was quoting at Rs 75.50, up Rs 0.65, or 0.87 percent on the BSE.