"Last year we took a call that we will pitch aggressively in the transmission space,” said Praveer Sinha, Managing Director and CEO of Tata Power.
Transmission used to be a forte of Tata Power’s. In 2002 and 2003, the company did a joint venture with Power Grid and set up a transmission line from Bhutan to Delhi.
“Subsequently, we didn’t go very strong on transmission. We concentrated more on transmission in Mumbai city. Last year we took a call that we will pitch aggressively in the transmission space,” said Sinha, in an interview to CNBC-TV18.
The company had bid for two projects in Uttar Pradesh (UP). “Hopefully we should be in a position to take forward not only these projects but many more projects which will come up for bidding, especially the green corridor that the government is talking about, we will actively participate in that,” he mentioned.
Transmission and distribution (T&D) and the renewable portfolio are the two big areas that Tata Power would grow. He further said that transmission comprises 30 percent of the company’s T&D revenue.
“Going forward, the thrust will be in these two areas and transmission will play a very critical role in the overall growth of Tata Power,” he said.
Sinha also believes ‘One Sun, One World Grid’ – announced in COP26 - is conceptually a great idea.
“This is a new concept, how we can interconnect the grids which can ensure the benefit of sun rays in producing electricity remains to be seen. The details are still being worked out. It is conceptually a great idea. India itself has a great opportunity in terms of not only producing renewable power for itself, but also for the nearby countries, SAARC countries, Bhutan, Nepal, Bangladesh, Sri Lanka – we can play a very active role,” Sinha said.
Big announcements have been made in COP26. Going forward, a lot of other things will happen in the second week of COP26.
“It is all moving in the right direction. There are big announcements and great opportunities. Tata Power will benefit because we have an edge over all others in terms of technology understanding and also a huge amount of innovation that we are carrying out,” he stated.
For the full interview, watch the accompanying video.
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