Shares of Tata Power hit a fresh 52-week low of Rs 338.40 in early trade on Thursday, even as the company announced a floating solar partnership with Norway’s Ocean Sun.

The stock was trading at Rs 339.15 at 10.33 am, down 1.74 per cent from Wednesday’s close of Rs 345.15, according to The Hindu BusinessLine. The 52-week high of Rs 464.90 was hit in April 2026.

On Wednesday, Tata Power said it would pilot a membrane-based floating solar system of about 300 kWp with Ocean Sun at its Mulshi reservoir in Maharashtra. The deal was signed at the 2nd India-EFTA Prosperity Summit.

Unlike conventional pontoon systems, Ocean Sun’s technology uses a hydro-elastic membrane. SBI Securities called the tie-up positive in the medium to long term. The stock is down more than 11 per cent this year.

The 52-week high of Rs 464.90 was hit in April 2026, and the stock is down more than 11 per cent this year. India has more than 102 GWp of floating solar potential, according to the National Institute of Solar Energy.