Tata Power Company announced that CRISIL has upgraded the long term rating on bank loan and debt facilities of the company from CRISIL AA; Positive to CRISIL AA+; Stable and has reaffirmed its CRISIL A1+ rating on the company`s commercial paper programme and short term facilities. Powered by Capital Market - Live News

Tata Power Company will hold a meeting of the Board of Directors of the Company on 8 May 2024.Powered by Capital Market - Live News

Tata Power has received validation from the Science Based Targets initiative (SBTi) for its near-term objectives. This milestone establishes the Company as the sole Indian Integrated Power entity with validated SBTi targets, in line with the well-below 2�C trajectory.Tata Power`s ambitious goals include a commitment to considerably reduce scope 1 GHG emissions by FY2037 from a FY2022 baseline and achieve a reduction in scope 1 and 3 GHG emissions from the generation of all sold electricity within the same timeframe.SBTi has meticulously validated the Company`s targets against the Near-Term Target Criteria and Recommendations. By adhering to science-based criteria, the Company aims to lead by example and catalyse positive change in the industry and beyond, playing a crucial role in addressing the global climate crisis in line with its Sustainable is Attainable movement. The SBTi, a collaboration between CDP (Carbon Disclosure Project), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the We Mean Business Coalition, works to promote ambitious corporate climate action by enabling businesses and financial institutions globally to establish science-based greenhouse gas emissions reduction targets.The Company first made a commitment to SBTi in 2021 and since then has taken significant steps in providing round-the-clock clean and green solutions for its customers. As a pioneer of the clean energy transition in India, Tata Power today has 5604 MW of clean energy generation, which constitutes 39% of its total capacity. The company has also committed to achieve carbon neutrality before 2045.Powered by Capital Market - Live News

BluSmart, India`s leading born-electric, full stack, vertically integrated eMobility ride hailing service and EV charging infrastructure network, proudly announces a groundbreaking multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company (TPTCL) a wholly-owned subsidiary of Tata Power. This strategic collaboration marks a significant step towards BluSmart`s commitment to decarbonize mobility at scale and bolster India`s net-zero ambitions. Under the PPA, 30 MW capacity will be sourced by TPTCL from the Company`s expansive 200 MW Solar PV power plant in Bikaner district, Rajasthan. TPTCL is uniquely positioned in the power trading industry with the Category-I Trading License enabling customers to optimize their energy costs and facilitate their sustainability goals. Enabled by the recently enacted Green Energy Open Access Rules, this partnership with TPTCL allows BluSmart to completely eliminate Scope 2 emissions from its existing 1.4 million sq. ft. of EV charging infrastructure and future charging hubs. With this, BluSmart emerges as the first mobility player in India to transition from zero tailpipe emissions to a zero-emissions company.Powered by Capital Market - Live News

Net profit of Tata Power Company rose 0.85% to Rs 953.01 crore in the quarter ended December 2023 as against Rs 945.02 crore during the previous quarter ended December 2022. Sales rose 3.69% to Rs 14651.00 crore in the quarter ended December 2023 as against Rs 14129.12 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales14651.0014129.12 4 OPM %16.5016.41 - PBDT2415.032717.28 -11 PBT1488.761864.02 -20 NP953.01945.02 1 Powered by Capital Market - Live News