Tata Power Renewable Energy commissions 100 MW solar capacity in AP

Myequity news service | Date : 02-07-2018 19:30:00 IST

Tata Power, India’s largest integrated power company, today announced that its 100% subsidiary Tata Power Renewable Energy Ltd. (TPREL) commissioned two solar capacity of 50 MW each in Anthapuramu Solar Park, located in the state of Andhra Pradesh.

With this, the overall operating renewable capacity of TPREL now stands at 2,215 MW in India.

Mr Praveer Sinha, CEO & Managing Director, Tata Power said , “Renewable energy is the future for ‘New India’ and will play a big role in providing the country “24X7 Power for All by 2019”. For a tropical country like India, solar energy has the highest potential. Tata Power is focused to constantly proliferate the group’s renewable energy portfolio and we plan to add around 1000 MW renewable energy capacity to our portfolio every year, scaling it to 45-50% in the next five years, largely through organic growth.”

"The commissioning of 100 MW capacity in Anthapuramu has fortified our position as a leading renewable energy company in the country with a strong presence in solar power generation. We will continue to seek potential of sustainable growth in India and selected International geographies." Mr. Ashish Khanna, President-Renewables, Tata Power said.

The company has organically added 159 MW wind & solar capacity in FY17 along with the acquisition of Welspun Renewables Energy Pvt. Ltd. last year.

About Tata Power Renewable Energy Limited:

TPREL is a wholly owned subsidiary of Tata Power, and is Tata Power's primary investment vehicle for clean and renewable energy based power generation capacity. TPREL's present operating capacity is 2215 MW comprising of 931 MW wind and 1284 MW solar capacity located in the states of Maharashtra, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Punjab, Bihar, Tami lNadu, Karnataka and Rajasthan. The company is also in the process of implementing 121 MW of renewable power projects at various locations on Greenfield basis. In order to aggregate its clean and renewable energy portfolio, Tata Power has initiated the process of carving out its 380 MW clean energy assets from its books into TPREL.

About Tata Power:

Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 10757 MW. A pioneer in the field, it has a presence across the entire power value chain: Generation of renewable as well as conventional power including hydro and thermal energy; transmission & distribution, trading and coal & freight logistics. With renewable energy assets in solar and wind accounting for 30% of the company's portfolio, Tata Power is a leader in clean energy generation. In line with the company's view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, microgrids and home automation & smart meters.

Tata Power Company Limited closed 1.37% down at Rs 72.25


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