Tata Power Renewable Energy Ltd Signs Deal With Subsidiary Of Nepal's Dugar Group

Tata group firm Tata Power Renewable Energy Limited (TPREL) on Thursday announced that the company has signed an agreement with Dugar Power Private Limited (Dugar Power), a subsidiary of Dugar Group, which is a prominent business house in Nepal.

Through this partnership, TPREL will strategically enter Nepal's fast-developing renewable energy market, paving the way for a quantum leap in the country's transition to sustainable energy.

TPREL is a subsidiary of The Tata Power Company Limited, one of India's largest integrated power companies.

"This alliance empowers Dugar Power to achieve a significant milestone in integrating cutting-edge sustainable energy solutions within Nepal. The partnership is set to deploy transformative solar technologies to produce a range of on and off-grid energy solutions," the company stated in a press release.

Mr. Ashish Khanna, CEO of Tata Power Renewable Energy Limited., said, "This partnership with Dugar Power is a strategic alliance engineered to redefine Nepal's energy landscape. As we make our entry into Nepal's promising renewable energy market, we intend to generate a transformative impact. With the combined expertise and resources of both companies, we are optimistic that this tie up will create an enabling ecosystem for sustainable energy transition in the region."

Mr. Abhishek Dugar, MD of Dugar Power Private Limited, said, "Our alliance with Tata Power Renewable Energy Limited is a strategic alignment in achieving Nepal's long-term objectives for renewable energy and energy self-sufficiency. Our collective aim transcends commercial interests; we are committed to ensuring that clean energy reaches every corner of Nepal. This partnership is a testament to our unwavering commitment to propel Nepal toward a sustainable energy future."

Tata Power Renewable Energy Limited is a leading player in the renewable energy sector, having globally shipped over 3GW of cells and modules. The company has powered some of the biggest industry and utility-scale international projects like 3.411 MWp in the Netherlands, and 3.376 MWp in the USA, to name a few. Dugar Power complements this with its specialized expertise in Nepal's renewable energy landscape. Together, they form a synergistic alliance with the capability to transform energy solutions in Nepal.

Tata Power shares on Thursday closed 2.10% lower at Rs 256.55 apiece on the BSE. It hit the day's high at Rs 261.70 and the day's low at Rs 256. The stock touched 52-week high at Rs 276.50 apiece and 52-week low at Rs 182.45 apiece on the BSE.
The stock has fallen 3.21% in the last 1 week. It surged 7.19% in 1 month. It gave 10.96% in 1 year, and 88.85% in 2 years. It gave positive returns of 384.51% in 3 years and 252.40% in 5 years. The market cap of Tata Power is Rs 81,976.44 Crore.