In a filing to NSE on 2nd June, 2016, Tata Power has announced that Maithon Power Limited, a 74:26 joint venture between Tata Power and Damodar Valley Corporation, has recorded an increase in its generation by 7 per cent in Financial Year 2016 as compared to the previous year. Maithon Power Limited generated 7172 MUs in FY2016 as compared to 6684 MUs in FY2015.
Maithon Power Limited (MPL) is the first successful public-private partnership (PPP) in the green field generation project in the country. The plant has so far implemented 2*525 MW coal-fired power project power in Jharkhand, which has languished for more than a decade. The power project benefits almost 16 million domestic consumers apart from supplying cost competitive power to industry and agriculture.
Commenting on this new development, Mr. Ashok Sethi, the COO and the ED of Tata Power plant said, “This development has reaffirmed our position as largest integrated power company in the country. Tata Power will ensure that it continues to add to the generation capacity of the power sector of India and prove to a national asset to the country. We are extremely proud of this development & hope to achieve many more milestones.”
The Power Project is located in Maithon in the state of Jharkhand with a total capacity of 1050 MW. Along with supplying power to DVC, power from Maithon Project is being exported to power deficit northern and southern stated. The Project, at this point, supplies power to three states namely Delhi, West Bengal and Kerela as also to DVC as per long term PPA, as these are currently facing shortage of electricity.
Tata Power Share Price is currently trading at Rs 72.45, down by 0.41 per cent. The intraday high and the intraday low are Rs 73.55 and Rs 72.35 respectively.
For more support and resistance levels of the Tata Power, please visit Tata Power Share Price Forecast.
Comments