TATAPOWER

** Shares of Tata Power Company TTPW.NS rise 2.6% to 360.8 rupees

** Stock among top pct gainers in the Nifty energy index .NIFTYENR, which is down 0.2%

** Integrated power co's unit signs pact with Andhra Pradesh govt to develop upto 7,000 MW of renewable energy projects, with an up to 490 billion rupees ($5.6 billion) investment

** Avg of analysts' rating on stock is "hold," same as that on Torrent Power TOPO.NS; median PT on TTPW is 425 rupees - data compiled by LSEG

** Stock down 8% so far this year vs a 9.9% decline in the Nifty energy index

($1 = 87.2300 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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March 7 (Reuters) - India's Tata Power Renewable Energy Ltd (TPREL) said on Friday it is exploring setting up 7 gigawatts (GW) of green energy projects in the southern state of Andhra Pradesh at an investment of 490 billion Indian rupees ($5.63 billion).

CONTEXT

TPREL, a unit of Tata Power TTPW.NS, is looking into clean energy projects including solar, wind and hybrid, with or without storage solutions, making it one of the largest renewable energy investments in Andhra, the company said.

Tata Power has plans to invest up to $9 billion to scale up its renewable energy capacity over the next five years.

WHY IS IT IMPORTANT

India has committed to setting up 500 GW of non-fossil fuel electricity generation capacity by 2030 but is still falling short of its previously set target to add 175 GW by 2022.

Separately, states are aiming to develop their own clean energy portfolio as they find buying power from federal projects expensive and also due to the lack of interstate transmission infrastructure.

Andhra aims to develop more than 160 GW of renewable energy, with a potential investment of 10 trillion rupees.

Even as India issued a record 73 gigawatts of utility-scale renewable energy tenders in 2024, about 8.5 GW was undersubscribed due to complex tender structures and delays in interstate transmission readiness.

India's cumulative unsigned renewable power sale agreement capacity has exceeded 40 GW.

($1 = 87.0400 Indian rupees)

(Reporting by Sethuraman NR; Editing by Shreya Biswas)

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By Aditya Kalra

NEW DELHI, March 6 (Reuters) - Indian consumer products distributors have filed an antitrust case against big fast-delivery businesses of Zomato, Swiggy and Zepto, calling for an investigation into alleged deep discounting practices, legal papers show.

India's e-commerce sector has faced intense scrutiny over how products are priced online. An antitrust investigation last year found Amazon and Walmart's Flipkart favour select sellers and resorted to "predatory pricing", which hurts smaller retailers. The companies have denied the allegations.

Quick commerce, in which companies deliver consumer products within 10 minutes from neighbourhood warehouses, is popular with customers but has upset smaller retailers as shoppers use apps to order everything from milk to pulses. Bernstein estimates India's quick commerce sector will reach $35 billion in 2030, from $200 million in 2021.

The All India Consumer Products Distributors Federation (AICPDF), in a case filing with the Competition Commission of India, has asked for an investigation into many business practices of Zomato's ZOMT.NS Blinkit, Swiggy's SWIG.NS instamart, and Zepto, including how discounts are doled out.

"An alarming trend of predatory pricing and deep discounting practices by Q-commerce platforms resulted in unfair pricing models," said the group's filing, which is not public but was reviewed by Reuters.

Zomato and Swiggy did not respond to Reuters' requests for comment. Zepto declined comment. The CCI did not respond.

The filing could increase headaches for Zomato and Swiggy. A separate CCI investigation last year found their food delivery businesses breached competition laws. The case is ongoing.

Zepto is preparing for an IPO after raising funds at a valuation of $5 billion last year.

The watchdog will review the case filing and can order its investigation unit to look at the matter closely. This can take several months and may require companies to explain their businesses. It can dismiss the case if it finds no merit in it.

AICPDF has 400,000 distributors as members, who supply products of brands such as Nestle NEST.NS, Unilever ULVR.L and Tata to 13 million retail shops across India.

A recent Datum Intelligence survey of 3,000 Indian quick commerce shoppers showed 36% had reduced shopping at supermarkets and 46% cut back purchases from small independent stores.

In its filing, AICPDF said local brick-and-mortar stores "cannot match" the quick commerce giants' discounts. It compared online and offline pricing of 25 products, including of Nestle and Hindustan Unilever HLL.NS.

A variant of a Nescafe coffee jar which a small independent Indian retailer receives from companies for about 622 rupees ($7.14) is offered for 514 rupees on Zepto, 577 rupees on Swiggy Instamart and 625 rupees on Blinkit, according to the filing.

Asia's richest man, Mukesh Ambani, is mimicking the strategy to offer fast deliveries, as are Amazon and Flipkart in limited areas.

Datum estimates Blinkit has a 40% market share in India's quick commerce market, with 1,007 small warehouses, while Zepto has more than 900 stores and a 29% market share. Swiggy's Instamart service holds a 26% share.

(Reporting by Aditya Kalra, Editing by Timothy Heritage)

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Feb 28 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY LTD - TP SOLAR SECURES 6.32 BILLION RUPEES CONTRACT FROM SECI

• TATA POWER COMPANY LTD - CONTRACT FOR SUPPLY OF 292.5 MWP DCR SOLAR MODULES

Source text: ID:nBSE5XMSbg

Further company coverage: TTPW.NS

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Feb 27 (Reuters) - Tata Power Company Ltd TTPW.NS:

• UNIT GOT 6.32 BILLION RUPEES CONTRACT FROM SECI

• ORDER TO SUPPLY OF 292.5 MWP DCR SOLAR MODULES

Source text: [ID:]

Further company coverage: TTPW.NS

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Feb 25 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY LTD - SIGNS MOU WITH ASSAM GOVERNMENT FOR 5000 MW RENEWABLE ENERGY

• TATA POWER COMPANY LTD - TO INVEST 300 BILLION RUPEES IN ASSAM RENEWABLE ENERGY

• TATA POWER COMPANY LTD - AGREEMENT TO SCALE UP ROOFTOP SOLAR PROJECTS, CREATE 3000 JOBS

Source text: ID:nBSE6hGHbt

Further company coverage: TTPW.NS

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** Shares of power generation co Tata Power TTPW.NS rise as much as 3.8% to 361 rupees, last up 2.7%

** HSBC Global Research upgrades stock to "hold" from "reduce", hikes PT to 345 rupees from 300 rupees

** Upgrade on the back of project execution progress, strong start to solar module manufacturing, start of new programs like pumped storage -HSBC

** Says TTPW's solar module, cell manufacturing business is ramping up nicely; engineering, procurement, and construction business seems to have turned around

** However, HSBC expects no material positive catalysts in medium term; expects power demand to remain weak until May, sees low probability of privatisation of state-owned power distribution companies

(Reporting by Aleef Jahan in Bengaluru)

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Feb 6 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TROMBAY UNIT 5 RESUMES POWER SUPPLY TO MUMBAI

Source text: ID:nNSE7Xzq7F

Further company coverage: TTPW.NS

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** Shares of Tata Power TTPW.NS rise 3.5% to 372 rupees

** Co said consolidated net profit rose 8.2% Y/Y to 10.31 bln rupees ($118.3 mln); rev from ops up 5.1%

** Co aided by better margin in its solar engineering, procurement and construction segment

** Co also interested in setting up small modular nuclear reactors, its CEO Praveer Sinha said on Tuesday

** Over FY 2025-2027, earnings growth to be driven by capacity addition and solar cell or module manufacturing - Antique Stock Broking

** Brokerage says execution of solar EPC order book and transmission line commissioning also key growth drivers

** 20 analysts covering the stock on avg have a "hold" rating; median PT is 462 rupees - LSEG data

** Stock gained 18% in 2024

($1 = 87.1270 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 4 (Reuters) - Tata Power Company Ltd TTPW.NS:

• Q3 CONSOL NET PROFIT 10.31 BILLION RUPEES; IBES EST. 10.87 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 153.91 BILLION RUPEES; IBES EST. 163.91 BILLION RUPEES

Further company coverage: TTPW.NS

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Jan 27 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TP SOLAR SIGNED CONTRACT WITH MAHARASHTRA STATE POWER GENERATION COMPANY

• CONTRACT TO SUPPLY 300 MWP OF ALMM-CERTIFIED SOLAR MODULES

• CONTRACT VALUED AT 4.55 BILLION RUPEES

Source text: ID:nBSE2dhDxx

Further company coverage: TTPW.NS

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Adds detail, background from paragraph 2

Dec 27 (Reuters) - India on Friday extended its mandate for imported coal-based power plants to operate at full capacity until Feb. 28, a government circular showed.

In October, the government had invoked an emergency clause to direct companies including Tata Power TTPW.NS, Adani Power ADAN.NS and Vedanta VDAN.NS, to operate their imported coal fired plants till Oct. 15 and had further extended the mandate till Dec. 31.

Imported coal-based power plants in India have a combined annual capacity of nearly 16 gigawatts.

India's coal-fired power output had fallen for a second straight month in September due to slower growth in electricity use and a surge in solar generation.

The country's imports of thermal coal plunged 31.8%, its fastest rate of contraction in fifteen months, in October, Reuters had reported earlier.

India's overall coal-based power generation over April-September rose by 5% from a year earlier, government data shows.

(Reporting by Manvi Pant and Sethuraman NR in Bengaluru; Editing by Mrigank Dhaniwala)

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MUMBAI, Dec 23 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata Power, has accepted bids worth 10 billion rupees ($117.54 million) for bonds maturing in 10 years, three bankers said on Monday.

The issuer will pay a coupon of 7.70% on this issue and had invited bids for the same earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Dec. 23:

*Size includes base plus greenshoe for some issues

($1 = 85.0770 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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MUMBAI, Dec 20 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata Power TTPW.NS, plans to raise 10 billion rupees ($117.6 million) through the sale of bonds maturing in 10 years, three bankers said on Friday.

The issuer will pay a coupon of 7.70% on this issue and has invited bids for the same on Monday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Dec. 20:

*Size includes base plus greenshoe for some issues

($1 = 85.0720 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)

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Dec 11 (Reuters) - A group of shareholders has offered to take Indian clean energy firm Renew Energy Global RNW.O private, an SEC filing showed on Tuesday.

The group comprising Renew's founder and chairman, Sumant Sinha, Canada Pension Plan Investment Board, Abu Dhabi Investment Authority's subsidiary Platinum Hawk, and Masdar, owns 64% of the fully diluted public shares of the Nasdaq-listed company.

The group is offering shareholders of the company - whose market capitalisation stood at $2.37 billion as of last close, according to LSEG data - $7.07 per share, a premium of 11.5% to the stock's last close.

Renew, which has a clean energy portfolio of about 16.3 gigawatts (GW) as of Sept., is among the top firms in the renewable energy space in India, and competes with companies like Adani Green ADNA.NS and Tata Power TTPW.NS

"This proposal reflects Masdar's positive assessment of the strength of India’s renewable sector and would provide capital investment to support the country’s energy transition," the UAE government-owned renewable energy company said in a statement.

Renew shares have fallen about 36% since listing in Feb 2021.

(Reporting by Sethuraman NR, Andres Gonzalez in London; Editing by Tasim Zahid)

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Dec 10 (Reuters) - Indian clean energy firms will be required to use solar photovoltaic (PV) modules from cells made locally by a government-approved list of companies from June 2026, in a move to curb imports from top supplier China.

India already requires the use of locally-made PV modules in government projects from an approved list of domestic manufacturers, and authorities have now extended this rule to solar cells as well.

The government plans to increase its non-fossil fuel capacity to 500 GW by 2030 from about 156 GW at present.

Currently, India has a solar PV module-making capacity of about 80 gigawatts (GW), while its cell-making capacity is slightly more than 7 GW, with companies largely relying on Chinese cells to make modules.

The government will issue a list of approved cell manufacturers as the installed capacity of solar PV cells in the country is expected to increase substantially next year, the renewable energy ministry said on Monday.

Several Indian companies have already set up or are in the process of establishing solar cell making plants.

Tata Power TTPW.NS recently commissioned a 4.3 GW cell making plant in southern India. Reliance Industries RELI.NS aims to commission its first phase of a 20 GW integrated solar cell and module production facility before the end of this year in the state of Gujarat, where the Adani Group already has a 4 GW cell and module making plant.

(Reporting by Sethuraman NR; Editing by Sonia Cheema)

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Dec 6 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER- TARGETING 33 GW OF CLEAN, GREEN ENERGY, INCLUDING 23 GW OPERATIONAL BY FY30

• TATA POWER- CAPEX 1.46 TRLN RUPEES ESTIMATED BETWEEN FY25-30 WITH 60% IN RENEWABLE SECTOR

Source text: ID:nNSE53s3Xj

Further company coverage: TTPW.NS

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Dec 3 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER RENEWABLE COMMISSIONS 431 MW DC SOLAR IN NEEMUCH

Source text: ID:nBSE4k7M4F

Further company coverage: TTPW.NS

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** Shares of Tata Power Company TTPW.NS rise as much as 2.2% to 416.90 rupees

** Co on Thursday said it has signed an MoU with the Asian Development Bank for $4.25 bln to finance key clean energy power projects

** Share price has moved above the 200-day exponential moving averages

** More than 8.8 mln shares change hands, 0.8x of 30-day avg

** Avg rating of 20 analysts equivalent to "hold", median PT is 471.60 rupees - LSEG data

** Stock last up 1.4%, pushing YTD gains to 24.5%

(Reporting by Ashish Chandra in Bengaluru)

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Nov 21 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER - CO SIGNS MOU WITH ASIAN DEVELOPMENT BANK FOR $4.25 BILLION

• TATA POWER - MOU TO FINANCE KEY CLEAN ENERGY POWER PROJECTS

Further company coverage: TTPW.NS

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By Manoj Kumar and Sethuraman N R

NEW DELHI, Nov 20 (Reuters) - India's ambitious plan to expand domestic manufacturing is coming up short in the solar industry which is grappling with inadequate government funding and a skills shortage, potentially jeopardising its clean energy targets, industry leaders said.

The hurdles faced by manufacturers of solar panels, cells and storage batteries are raising costs and delaying projects, threatening India's ability to reduce its carbon footprint and meet international climate commitments, they said.

It also throws into sharp relief the challenges facing Prime Minister Narendra Modi's "Make in India" programme, which seeks to bolster 15 sectors, including renewable energy and electronics, in an effort to turn the South Asian nation into a global manufacturing hub.

Modi's government has imposed 40% tariffs on Chinese solar panels and 25% on cells, allocating about $3 billion in production-linked incentives for local manufacturers as part of a plan for net zero carbon emissions by 2070.

However, industry executives say India - the world's third-largest emitter of greenhouse gases - must significantly step up funding and training programmes in the renewables sector to meet its goal of expanding non-fossil fuel capacity by 50 GW annually to 500 GW by 2030.

They caution that the absence of stronger government action could also thwart its broader manufacturing drive that has seen it plough nearly $24 billion in state incentives over a five-year period, with another roughly 20 billion rupees set aside annually for upskilling and training.

A shortage of skilled manpower is a major problem, said Dwipen Boruah, managing director of renewables consultancy firm GSES India, which has trained over 7,000 people in renewable technologies and wants the government to substantially lift subsidies for education and training in the sector.

"Hundreds of private institutes exploit these subsidies but offer subpar training," he said, adding that small subsidies - often just a few thousand rupees per student - hinder effective education.

Boruah and other industry executives note that while India produces over a million engineering graduates annually, traditional colleges are not equipped to teach solar, wind and other renewable technologies.

Some executives say the government's current training budget of around 5-6 billion rupees should be ramped up by a factor of 10.

The ministry responsible for skills development didn't respond to an email seeking comment.

Last week, Pralhad Joshi, India’s minister for renewable energy, announced the formation of a joint panel with industry representation to address key issues, including training, to meet clean energy targets.

A 1.2 MILLION PROBLEM

The renewable industry faces a skill gap of around 1.2 million, with demand expected to rise by 26% creating a need for 1.7 million skilled workers by 2027, according to TeamLease Services, a staffing company, working with industry and government on training.

"The skill gap spans all levels of industry," especially in emerging technologies like cell manufacturing, battery storage, and advanced grid integration, said Ashwani Sehgal, president, Indian Solar manufacturers Association.

"Industry is facing near 20% attrition of talented workers annually, posing a risk to production plans."

Earlier this year, the government proposed to step up support for upskilling and relax visa restrictions on Chinese technicians, after many firms said that costly imported machines were lying unused due to lack of skilled workers.

Vaishali Nigam Sinha, co-founder of ReNew RNW.O, one of India's largest renewable firms with nearly 10 GW of capacity, said skills shortage is one of the most "underestimated barriers" to energy transition.

"The lack of skilled engineers, technicians, and project managers is pushing up operational costs," she said, a concern echoed by several industry executives.

This shortage comes as India speeds up plans for 35 GW of solar and wind capacity by March 2025, driven by a projected 7% annual increase in power demand.

Manufacturers say the skills gap could also limit India's plans to expand solar module exports, touching $1.9 billion last fiscal year, mainly to the U.S. market.

Tata Power, with 6 GW of renewable capacity, has set up 11 training facilities, training 300,000 youth in solar installations, battery management, and other green technologies.

"A skilled workforce is essential for accelerating project deployment, ensuring efficient operations and maintenance and driving technological innovation," said Himal Tewari, company's chief human resources officer.

REMOTE CHALLENGE

In Greater Noida, a manufacturing hub on the outskirts of Delhi, companies are scrambling to hire new employees.

Job ads for solar design engineers, technicians, installers and sales managers are flooding job portals, with salaries ranging from 20,000 rupees to 100,000 rupees ($239 to $1200) per month.

Monica Sehgal, director of Alpex Solar ALPX.NS, said the company was offering incentives and overseas training in Taiwan and Vietnam to attract talent.

However, retaining workers at remote locations, particularly in Rajasthan and Gujarat, remains challenging as employees often prefer to work in bigger cities.

Kapil Sharma, a 19-years old technician, landed a job with a hefty salary hike at the Alpex factory, on the outskirts of Delhi, after working with a company in the remote Rajasthan desert.

"I had never seen a solar panel during my three-year electrical engineering course, and received all training on the job," he said while operating a panel manufacturing machine.

Sharma said a job in a panel factory offered higher pay compared to textile or auto factories, allowing him to send 20,000 rupees a month back home.

"I am now waiting for an overseas training and higher increments."

($1 = 84.4010 Indian rupees)

(Additiona reporting by Sunil Kataria
Editing by Shri Navaratnam)

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Nov 19 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY - CO, DRUK GREEN POWER CORPORATION FORGE PARTNERSHIP

• TATA POWER COMPANY - PARTNERSHIP WITH DRUK GREEN POWER TO DEVELOP 5,000 MW OF CLEAN ENERGY PROJECTS

Source text: [ID:]

Further company coverage: TTPW.NS

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Nov 15 (Reuters) - Tata Power Company Ltd TTPW.NS:

• ACQUIRED 100% EQUITY STAKE IN ERES-XXXIX POWER TRANSMISSION

• ERES-XXXIX DEAL FOR 185.6 MILLION RUPEES

Source text: ID:nBSEbYx5q2

Further company coverage: TTPW.NS

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Nov 14 (Reuters) - REC Limited RECM.NS:

• UNIT TRANSFERRED ENTIRE SHAREHOLDING OF ERES-XXXIX POWER TRANSMISSION TO TATA POWER COMPANY

• CONSIDERATION COMPRISES PROFESSIONAL FEE OF 150 MILLION RUPEES, REIMBURSEMENT OF EXPENSES

Source text: ID:nBSE4FWbZr

Further company coverage: RECM.NS

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Nov 13 (Reuters) - Tata Power Company Ltd TTPW.NS:

• UNIT COMMISSIONS FLOATING SOLAR PROJECTS OF 126 MW IN OMKARESHWAR

Further company coverage: TTPW.NS

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Nov 12 (Reuters) - Life Insurance Corporation of India LIFI.NS:

• LIC - CO DECREASED SHAREHOLDING IN TATA POWER CO FROM 5.906% TO 3.881%

Source text: ID:nBSEc30R6l

Further company coverage: LIFI.NS

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Nov 7 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER- ACQUIRED 100% EQUITY STAKE IN PARADEEP TRANSMISSION

• TATA POWER- ACQUIRED 100% EQUITY STAKE IN PARADEEP TRANSMISSION FOR 186.4 MILLION RUPEES

Source text: [ID:]

Further company coverage: TTPW.NS

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** Tata Power TTPW.NS gains 3% to 440 rupees after brokerages hike TP despite Q2 profit missing analysts' estimates

** At least five brokerages raise TP post results - LSEG

** Jefferies raises TP from 325 rupees to 340 rupees, a 20% discount on last close, to include TTPW's coal power business, which the brokerage values at a premium to that of rival NTPC's NTPC.NS

** Says co's core profit was 8% above its estimates, boosted by solar energy projects and coal business

** TTPW's Q2 consol net profit rises 5.8% y/y to 9.27 bln rupees ($110 mln) vs analysts' estimates of 9.82 bln rupees

** Stock rated "hold" on avg; median TP is 465 rupees - LSEG

** TTPW up 4% so far this week, set to snap four weeks of losses

($1 = 84.0780 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Oct 30 (Reuters) - Tata Power Company Ltd TTPW.NS:

• FILED INSURANCE CLAIM OF ABOUT 2.21 BILLION RUPEES FOR FIRE INCIDENT ON SEPT 24

• ALREADY COMMENCED RESTORATION EFFORTS

• FIRE INCIDENT DOES NOT HAVE MATERIAL EFFECT ON PRODUCTION, SERVICES, OR FINANCIALS

Source text: ID:nNSE64y9PP

Further company coverage: TTPW.NS

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Oct 24 (Reuters) - Keppel:

• TO PROVIDE COOLING SOLUTIONS TO BLACKSTONE’S EXORA BUSINESS PARK AND COLLABORATES WITH TATA POWER

• WILL PARTNER DAIKIN AIRCONDITIONING INDIA TO RETROFIT 4,300 REFRIGERATION TON CHILLER PLANT SYSTEM AT EXORA BUSINESS PARK

• STRATEGIC COLLABORATION ARRANGEMENT WITH TATA POWER TO JOINTLY OFFER COOLING-AS-A-SERVICE (CAAS) SOLUTIONS ACROSS INDIA

Further company coverage: BX.N

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