Tata Power shares in focus as company’s subsidiary inks MoU with ONGC. Details here

Tata Power's green energy subsidiary, Tata Power Renewable Energy (TPREL) has signed a non-binding Memorandum of Understanding (MoU) with public sector behemoth Oil and Natural Gas Corporation (ONGC), for joint opportunities in the Battery Energy Storage System (BESS) space, as per a filing with the exchanges.

Tata Power shares closed at ₹348.10 each on February 12, and now, ahead of the markets opening today, all eyes are on the stock amid news of The TPREL and ONGC collaboration.

On the last trading day, Tata Power opened at ₹348.20 and closed slightly higher at ₹349.05. Over the past year, the stock has seen a 52-week high of ₹494.85 and a low of ₹338.50, with a trading volume of 389,213 shares on the BSE.

The Tata Power Renewable-ONGC Deal

As per the MoU, signed at India Energy Week 2025, both companies will jointly explore and identify commercial opportunities across various segments of the BESS value chain.

This includes opportunities in — backup power, electric vehicle (EV) charging infrastructure, energy trading through ancillary services, grid stabilisation services, hybrid energy solutions, industrial and commercial storage solutions, microgrids, renewable energy integration, and utility-scale systems.

Present at the MoU signing were Petroleum and Natural Gas Minister Hardeep Singh Puri, ONCG Chairman and CEO Arun Kumar Singh, and TPREL CEO and MD Deepesh Nanda.

The statement to the exchanges, said the collaboration “underscores shared commitment to promoting sustainable energy solutions and driving India’s energy transition”. It pointed to TPREL's recently commissioned a 100 MW Solar PV plant with a 120 MWh Utility Scale BESS at Rajnandgaon, Chhattisgarh, which it called India’s largest Solar and BESS project.

‘Marks Milestone in India’s Energy Transition Journey’

TPREL's Nanda in the statement called the partnership with ONGC “a significant milestone in our journey to drive India’s energy transition”. He added that BESS will play a crucial role in “strengthening grid reliability, enabling greater renewable energy integration, and supporting India’s ambitious clean energy goals”.

Further, ONGC's Singh noted that the collaboration represents a “strategic step towards strengthening energy storage capabilities, which are vital for grid stability and renewable energy adoption. By leveraging our collective expertise, we aim to contribute meaningfully to India’s energy transition and long-term energy security.”