Tata Power has announced that its Renewable business registered a healthy profit while surpassing the 2000 MW operating capacity mark with another about 500 MW under construction. In keeping with its commitment to generate 30 percent to 40 percent power by 2025 through renewable sources of energy, the Company added 1350 MW of renewable capacity during the year thereby making it largest green portfolio company in India.
Commenting on the Company’s robust renewables business performance, Anil Sardana, CEO & Managing Director, Tata Power said, "We are happy to announce that Tata Power has registered a strong growth in Renewables which is one of our key focus areas through our recent acquisition of solar assets. The Renewable Energy Business made a healthy contribution to PAT this year and we continue to be the largest renewable player in the country. The Company aims to pursue a well charted growth strategy by demonstrating a high level of commitment towards cleaner sources of generation thus increasing the share of non-fossil fuel based generation output to 30- 40% by 2025."
Tata Power’s non-fossil fuel based green generation portfolio (comprising of hydro, waste gas, solar & wind) crossed the 3000 mark and now stands at 3141 MW. 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 Power Projects. 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.
The Company will continue to work towards ensuring its renewable business remains the largest renewable in the country.
