Tata Power's generation capacity rises 5% in 2015-16
Tata Power Renewable Energy Ltd (TPREL), the renewable energy arm of Tata Power, generated 340 MUs that includes clean and green energy sources -- hydro, wind and solar.
Tata Power, the country's largest integrated power company, on Tuesday, announced that its generation capacity increased by 5% in 2015-16 as against the year-ago period.
The company, together with all its subsidiaries and jointly-controlled entities, has an installed generation capacity of 9,184 megawatts (MW) as of May 2016 as against 8,750 MW in the year-ago period from various fuel sources such as thermal, hydroelectric power, renewable energy and waste heat recovery, the company said in a statement.
The consolidated generation through all its subsidiaries stands at 47,016 million units (MU) in 2015-16. The standalone generation stood at 12,075 MU in FY16.
Overall, in 2015-16, Coastal Gujarat Power Ltd (CGPL), Tata Power's wholly-owned subsidiary, reported a total generation of 25,680 MUs while the Maithon plant reported 7,172 MUs.
Tata Power Renewable Energy Ltd (TPREL), the renewable energy arm of Tata Power, generated 340 MUs that includes clean and green energy sources -- hydro, wind and solar. Total generation from clean sources was 3,785 MU.
Tata Power's COO and ED Ashok Sethi said in a statement, "We have in this quarter spread our footprint across the country and we are confident that in the next few years, we will have a greater contribution towards the government and consumers' vision."
The company also has a significant presence in the clean energy space with a gross installed capacity of 1,704 MW.
The company recently acquired a 30 MW wind farm in Maharashtra, strengthening its clean energy portfolio. The company also bagged 100-MW solar projects in Karnataka through its subsidiary Tata Power Renewable Energy.
Tata Power's vision is to generate 30-40% of the company's total generation capacity from non-fossil fuel sources by 2025.
At 13:36 hours, the shares of Tata Power were trading up 1.70% or Rs 1.20 at Rs 71.90 per scrip on the Bombay Stock Exchange (BSE),