Green tech to ‘power’ Tata’s global growth
India’s largest private sector power utility, Tata Power, is not banking on conventional power projects to increase its presence overseas but is instead looking at tie-ups with leading energy firms to implement environment-friendly ‘green power projects’, reports Anupama Airy.business Updated: Sep 20, 2009 21:58 IST
India’s largest private sector power utility, Tata Power, is not banking on conventional power projects to increase its presence overseas but is instead looking at tie-ups with leading energy firms to implement environment-friendly ‘green power projects’. This includes geothermal energy (power generated from heat within earth) and using clean coal technologies for commercial applications.
Marking its first international foray in generation, Tata Power recently signed an agreement with Tata Steel and Corus Steel to set up its first overseas power plant in Netherlands.
This will be an 525 mw green power plant — based on gases from steel manufacturing — to meet the captive power needs of Corus Steel.
“In terms of setting up conventional power plants, frankly we are not that driven,” Tata Power executive director and chief financial officer S Ramakrishnan told Hindustan Times.
“If you ask me whether Tata Power will be keen to set up a 2,000 mw coal based power plant in Philippines, the answer is no but if we have investments in coal mines where the owner wants to put up a power plant — as backward or forward integration —then yes we may look at it. Other than these, we are not keen top do conventional power projects overseas.”
However, if it is hydel power, it is very much on Tata Power's radar. “We are looking at projects in the Himalayan region. The company already has 26 per cent investment in a 120 mw Dagachhu hydro power project in Bhutan and is exploring similar opportunities in Nepal, Bhutan and Sikkim and Arunachal Pradesh,” he said.
On the home font, Ramakrsihnan said, “Tata Power plans to be a 9,000 mw company by 2012 and a 14,000 mw company by 2014.’
‘These capacities are very much on ground and under implementation.” This includes a 4,000 mw ultra mega power project at Mundra in Gujarat. The coal requirement of this project is being met from two coal mines in Indonesia, where Tata Power has acquired a 30 per cent stake.
In addition, Tata Power is also speeding up the implementation of its 1,050 mw Maithon power project with the Damodar Valley Corporation at Jharkhand. The first unit of the project — 525 mw has been planned for commissioning during 2010 for supplying around 250-300 mw power during the forthcoming Commonwealth Games.