Tata Power plans to add 700 MW in renewable energy

Enhances renewables portfolio by 7% to 3,833 MW

Tata Power has enhanced its renewable portfolio by 7% to 3,883 mega watts (MW) and plans to add 700 MW in the near future to take the capacity to 4,600 MW.

More than a third of Tata Power’s portfolio comes from clean energy. Of the 3,383 MW, 932 MW comes from wind and 1,705 MW comes from solar alone.

“The company’s renewable energy portfolio stands at 3,883 MW, a 7% increase from the corresponding quarter last year,” said a company statement.

“We, at Tata Power, have constantly strived to proliferate the company’s renewable energy portfolio with each passing year. We successfully added a capacity of 312 MW to our TPREL portfolio last year and are in the process of adding another 700 MW. We aim to add a large amount of renewable energy capacity through wind, rooftop solar, solar panels and microgrids to our portfolio every year and scale up our existing portfolio in the next five years,” said Praveer Sinha, MD & CEO, Tata Power. About 36% of the firm’s capacity comes from clean generation sources, and is about 1% of India’s total capacity of 372 GW.

Ashish Khanna, president, Renewables, Tata Power said, “As the nation is gripped by the ongoing COVID-19 pandemic, we have continued to operate nearly 71 of our renewable project sites at optimum capacity owing to the rising power demands from States. The announcement by the [Centre] on must-run renewable energy projects and payments to renewable energy generators to be made on a regular basis by discoms is welcome.”