Tata Power, India’s largest integrated power company, announced that the Company’s 100% subsidiary, Tata Power Renewable Energy Ltd. (TPREL) increased its generation capacity by 337 per cent in FY17 as compared to FY16. TPREL generated 1440 MUs that from renewable energy sources (wind & solar) in FY17 as compared to 329 MUs in FY16.
TPREL is the primary vehicle through which Tata Power’s investments in renewable energy capacity are driven. TPREL proposes to grow its capacity through organic and inorganic means over the next few years. TPREL completed commissioning of 100 MW wind farm at Nimbagallu, Andhra Pradesh and 50 MW Rojmal Phase-II in Gujarat and 15 MW solar plant in Belampally, Telangana in last quarter of FY17.
Mr. Rahul Shah, CEO, Tata Power Renewable Energy Limited, said, “We aim to create a focused renewable energy business in TPREL with a sustained growth trajectory. An increase in our generation capacity is testament to our hard work in ensuring and increasing our operational efficiency. This achievement gives us confidence to further make progress in the renewable energy sector. We will continue to look for opportunities to acquire operating wind and solar plants, apart from our own organic growth pipeline, to grow our generation portfolio.“
During the financial year 2016-17, Tata Power’s renewable arm Tata Power Renewable Energy Limited completed the acquisition of WREPL which had 1,140 MW of renewable energy capacity. On the international front, Tata Power’s South African Joint Venture Company, Cennergi, started Commercial Operations of both its wind farms totaling 230 MW; making its India’s truly international power company.
Tata Power together with all its subsidiaries and jointly controlled entities, has an installed generation capacity of 10466 MW, of which 3144 MW is through clean energy. The total generation of Tata Power from clean energy sources is 7590 MUs. Tata Power’s vision is to have 30-40% of the Company’s total generation capacity from non-fossil fuel sources by 2025. Tata Power’s renewable energy capacity this year crossed 2000 MW and green generation portfolio crossed the 3000 MW mark.