Motilal Oswal
    NIFTY 50
Motilal Oswal
December 07, 2018 01:07 PM | Business

Tata Power expects 40% of power generation from renewable energy in 5 years

Mumbai-headquartered Tata Power on Friday said it expects 40 percent of power generation from renewable sources of energy in the next five years.

Talking on proposed amendments in the power purchase agreements (PPAs) of coal-based plants in Gujarat, Praveer Sinha, managing director and chief executive officer, said the state government has approved high-powered committee’s (HPC) report to pass on the higher cost of coal to discoms, which is Gujarat Urja Vikas Nigam Ltd (GUVNL) and later to Central Electricity Regulatory Commission (CERC) for the approval.

Sinha said governments of Rajasthan, Haryana and Punjab are also looking to amended PPAs after the apex court on October 29 gave go-ahead to discoms and stressed power companies to appeal for amendment in PPAs.

Talking on expansion plans, he said Tata Power is in the race for acquiring Central Electricity Supply Utility of Odisha (CESU Odisha) and added that, the company will bid for more distribution networks as and when available.

On consumers complaints on sudden tariff hikes in Mumbai, Sinha said the company has not seen any significant bill uptick for Tata Power consumers in the island city.
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