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Tata Power drops 2% after Mumbai energy outage

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NEW DELHI: Shares of Tata Power dropped 2 per cent in Monday’s commerce after the corporate mentioned there was “simultaneous substation tripping” at state-run MSETCL’s two services, which led to a significant energy outage within the monetary capital Mumbai and surrounding areas.

Power provide had been disrupted in most components of Mumbai, Navi Mumbai and Thane because of electrical energy grid failure on Monday morning.

Following the event, the scrip fell 2.48 per cent to hit a low of Rs 53.10 on BSE.

The firm mentioned the tripping on the Kalwa and Kharghar sub-stations at 10:10 am precipitated an enormous dip in frequency within the Mumbai transmission system, resulting in the tripping of energy provide.

“Restoration work is in progress to bring supply from the 3 Hydro units and Trombay units once the MSETCL (Maharashtra state electric transmission company) transmission lines are connected,” a Tata Power assertion mentioned, PTI reported.

Trains got here to a halt and different actions have been additionally grounded because of what was labelled as a grid failure by officers.

A spokesperson from Brihanmumbai Electric Supply & Transport Undertaking advised ET that energy provide from Tata Power has stopped utterly since morning. “We purchase roughly 800 megawatt of energy from Tata Power which has utterly stopped, because of this energy provide throughout the Mumbai area is disrupted affecting our provide base of over 10 lakh customers.”

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