Power utility firm, Tata Power said that, “it has signed an MoU with Mahanagar Gas Limited to explore synergies of operation in integrated customer services, foray into emerging e-mobility business and other value-added services of common interests,” in a filing to Bombay Stock Exchange.

As per the BSE report, the MoU was signed by Sanjib Datta, MD of MGL and Praveer Sinha, CEO and MD of Tata Power in Mumbai.

Praveer Sinha, CEO and MD of Tata Power said, “we are happy to announce our partnership with MGL.”

“This is yet another significant move by Tata Power to offer a wide range of services to the Indian energy consumers, particularly in Customer Management Solutions, IT Solutions, Data Analytics, Geographical Information System (GIS) based solutions SCADA systems; Common safeguard activities for underground assets, solar rooftop initiatives and emobility space which, we foresee as how India will move its people and goods in future,” he added to his statement.

Sanjib Datta, MD of MGL, said, “at a time when MGL is entering the 25th year of its operations of providing environment-friendly CNG and PNG to Mumbai and its surrounding areas, we are exploring business opportunities beyond gas.”

“This strategic alliance with Tata Power will provide us an opportunity to explore joint synergies and foray into emerging e-mobility business in the Indian mobility space, where we are already a significant player by supplying CNG for various vehicle segments,” he added.

The shares of Tata Power were trading at Rs. 61.20 apiece, low at 0.15 points or 0.24 per cent at 13:47 hours on the BSE.