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Tata Power shares experienced a 3 per cent rise on the BSE, reaching an intraday high of Rs 361.85 per share. The increase followed an announcement that Tata Power Renewable Energy, a subsidiary of Tata Power, signed a memorandum of understanding (MoU) with the Andhra Pradesh government to develop up to 7,000 MW of renewable energy projects. At approximately 10:08 AM, Tata Power's share price was trading at Rs 358.6 per share, reflecting a 2.08 per cent increase. Meanwhile, the BSE Sensex saw a 0.36 per cent gain, reaching 74,599.93. Tata Power's market capitalisation stood at Rs 1.14 trillion, with a 52-week high of Rs 494.85 per share and a 52-week low of Rs 326.25 per share. Under the agreement, Tata Power Renewable Energy and the Andhra Pradesh government will collaborate on developing renewable energy projects, including solar, wind, and hybrid installations, with or without storage solutions. The initiative, valued at approximately Rs 490 billion, represents one of the largest renewable energy investments in the state. The MoU is expected to contribute to economic growth by promoting skill development and supporting local livelihoods. The planned projects align with Andhra Pradesh’s Integrated Clean Energy (ICE) Policy, which targets the development of over 160 GW of renewable energy with a projected investment potential of Rs 10 trillion. As part of the agreement, Tata Power Renewable Energy will conduct feasibility studies and preliminary assessments to evaluate project viability. The New and Renewable Energy Development Corporation of Andhra Pradesh will provide support in areas such as site identification and infrastructure for power evacuation. Tata Power, an integrated power company under the Tata Group, manages a diversified portfolio of 15.6 GW across renewable and conventional energy sectors, covering generation, transmission, distribution, trading, storage solutions, and solar cell and module manufacturing. Over the past year, Tata Power shares have declined by 11 per cent, while the Sensex has risen by 1 per cent. News source: Business Standard