Tata Power has announced plans to grow its business by scaling up the generation capacity to 18,000 MW by 2022 from the current generation capacity of 8,750 MW and growing its value added businesses 10 fold by that time.
The company said in seven years it would achieve coal or coal equivalent capacity of 25 million tonnes per annum and would have a distribution capacity of 4,000 MW of power.
Clean and green sourcesOf the 18,000 MW capacity, 20 to 25 per cent would come from clean and green sources, the company said on Thursday.
The future growth areas include the 1,600 MW coastal Maharashtra project at Dehrand for which the company has completed the acquisition of private land for the project and the 380 MW Dugar Hydroelectric project that would come up through a joint venture.
The company is also planning the 1,980 MW Tiruldih Power Project for which around 40 per cent of the required land has been acquired.
Share purchase pactRecently, the company signed a share purchase agreement with Ideal Energy Projects Ltd., promoted by IRB group, to acquire a 270 MW power project located near Nagpur, Maharashtra.
So far as green energy is concerned, Tata Power’s 126 MW Dagachhu Hydro Power Corporation (DHPC) in Bhutan achieved full commissioning in 2014-15.
Additionally, the 187 MW Adjaristsqali hydro project in Georgia is set to come up the next few years.
In India, Tata Power Renewable Energy Ltd. is developing over 200 MW of wind power projects. 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 Gujarat and Rajasthan for solar based projects and is in the process of acquiring land in Telangana, it said.
A 202.5 MW project is being executed at Kalinganagar in Odisha through joint venture with Tata Steel. Tata Power in joint ventures is also setting up power projects in Africa.
“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,” Anil Sardana, CEO & MD, Tata Power, said in a statement.
“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.”
