Tata Power shares decline post MoU with Assam Govt to develop 5000 MW of renewable and clean energy

Tata Power share price: Tata Power has inked a Memorandum of Understanding (MoU) with the Assam Government to tie up and support up to 5,000 megawatts of renewable and clean energy projects with ₹30,000 crore investment over the next five years.

The stock fell 0.23% to ₹350.7 apiece on the National Stock Exchange (NSE) at 9:39 am.

The market capitalisation of the company stands at ₹1,12,220.32 crore.

According to the MoU, the Assam Government will lease around 20,000 acres of encumbrance-free government land and aid in acquiring private land suitable for solar, hydro, wind, and energy storage projects.

The state will promote infrastructure development to ensure seamless transmission connectivity and facilitate the establishment of Renewable Energy Parks.

"The initiative will also include the identification of land for Group Captive sites, enabling industries and tea gardens to access clean energy under Assam’s land allotment and Industrial policies. To accelerate project execution, the Government has committed to single-window clearances for statutory approvals, financial incentives, and collaboration with research institutions for innovation in the renewable sector. Skill development programs will also be introduced to build a trained workforce for project implementation and operation," Tata Power said in an exchange filing.

Tata Power Renewable Energy, a subsidiary of Tata Power, also signed an MoU with Assam Power Distribution Company Ltd to accelerate renewable energy adoption and improve energy efficiency across the state.

This agreement concentrates on scaling up rooftop solar projects under the Pradhan Mantri Surya Ghar Muft Bijli Yojana (PMSGY).

Dr Praveer Sinha, CEO and Managing Director of Tata Power, said, "These MoUs marks significant steps towards developing renewable and clean energy capacity, leveraging Assam’s vast potential in solar, wind, hydro, and energy storage. With strong policy support, infrastructure development, and skill enhancement initiatives, this collaboration will not only strengthen the state’s energy security but also drive economic growth and job creation."