Mumbai: Tata Power, India’s largest integrated power company, today announced it’s strategic intent 2022 with key focus to scale up the Generation capacity and Value Added Businesses viz. services, trading etc. By 2022, the Company plans to increase the generation capacity to 18,000 MW with 20-25% from clean and green sources, 25 MTPA of Coal and Coal Equivalent, 4000 MW Distribution and Decentralised Distributed Generation, 10-X growth in value added businesses.
In FY15, Tata Power’s 126 MW Dagachhu Hydro Power Corporation (DHPC) achieved full commissioning. The clean power generated by this plant will be sold to India, thereby helping to reduce carbon emission. Additionally, the 187 MW Adjaristsqali hydro project in Georgia, which recently achieved financial closure will help Georgia achieve energy self-sufficiency. The three lenders are providing a total of $250 million of long term project financing for the project. As a first hydropower project in Georgia, it is expected to produce about 450 gigawatt hours of power annually and reduce greenhouse gas emissions by more than 200,000 tonnes per year.
To achieve the set target, the Company has various projects under execution and development stage.
· Tata Power Renewable Energy Limited (TPREL): Tata Power is a responsible power company committed to expanding its clean and green portfolio and is developing over 200 MW of wind power projects in India. Two wind projects of 154 MW are under construction in Gujarat and Rajasthan, of which 18 MW is already commissioned. The Company has acquired land in the states of Gujarat and Rajasthan for future of solar based projects and is in the process of acquiring land parcels in the state of Telangana.
· Industrial Energy Limited (IEL): The 202.5 MW Kalinganagar project is being executed through IEL, a joint venture of the Company (74%) with Tata Steel Limited (26%) for its steel plant in Kalinganagar, Odisha. The project is in advanced stages of execution.
· Cennergi, South Africa: The Company’s JV in South Africa, Cennergi Limited, achieved financial closure of 134.4 MW Amakhala Emoyeni Wind Farm and 95.17 MW Tsitsikamma Community Wind Farm in May 2013 and June 2013 respectively. The construction of both projects is progressing on schedule.
· Itezhi Tezhi Hydro Power Project: The Company entered into a Share Purchase Agreement and has acquired 50% shares held by Tata Africa Holdings (SA) (Pty) Limited (Tata Africa) in Itezhi Tezhi Power Corporation Limited which is implementing the 120 MW Itezhi Tezhi Hydro Project in Zambia. The balance 50% is held by Zambia Electricity Supply Company Limited, the national power utility of Zambia.
Speaking on Tata Power’s commitment, Mr. Anil Sardana, CEO & MD, Tata Power said, “Being an integrated player across the power value chain gives Tata Power a competitive edge in the marketplace. We are evaluating various opportunities for providing management and technical advisory services in Generation and Distribution businesses and are focusing on the consumer end of the value chain through distribution network development and power supply business. While the Indian market continues to remain the primary focus of business, we have started making investments in projects in select international geographies to diversify our portfolio further. In line with our international strategy, we are continuing to evaluate investment opportunities in Africa, Turkey & Middle East, South East Asia and the SAARC region. The company’s growing global footprint is complemented by considerable efforts to decrease its carbon footprint. Tata Power’s multi-fold growth validates its bright future, brimming with possibilities and full of promise to power the future as a pioneer of technological innovations and green initiatives.”
Potential Future Growth Areas
· 1600 MW Coastal Maharashtra, Dehrand: During the year, the Company has successfully completed acquisition and possession of private land for the project. All statutory approvals required to start the project are in place. Further, clearance by Government of Maharashtra for transfer of Government land to Maharashtra Industrial Development Corporation for Tata Power is in the final stages.
· 380 MW Dugar Hydroelectric JV Project: The site investigations and development of the Detailed Project Report are under progress through its SPV, Dugar Hydro Power Limited.
· 1980 MW Tiruldih Power Project: The Company has acquired around 40% of the required land and obtained water allocation for the project. Environment clearance is being discussed at the Expert Appraisal Committee (EAC) in the Ministry of Environment & Forests (MoEF). Post deallocation of the Tubed coal block, further action on environment clearance is contingent on obtaining a firm coal linkage for the project.
Tata Power Renewable Energy Limited: The Company is developing over 200 MW of wind power projects in India. It has acquired land in the state of Gujarat and in Rajasthan for future solar based projects.
Ideal Energy Projects Limited (IEPL): The Company signed a Share Purchase Agreement with IEPL, promoted by IRB group, for acquisition of 100% of shares in the 270 MW power project located near Nagpur, Maharashtra. Currently, both sides are working towards completing the conditions precedent to the transaction.
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