 "Tata Power eyes local acquisitions")
Besides, the company, which has an installed generation capacity of over 8,500 MW, is seeking to strengthen its footprint in the solar and wind power segments by way of new projects and acquisitions.
"Due to the current stress in the power sector, there are assets which may be available for acquisition. Your company is and will continue to evaluate opportunities to acquire projects in various stages of development across the country," Tata Power said in its 2012-13 annual report.
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According to the power producer, such acquisitions could help in leveraging its existing businesses in the power value chain.
A raft of problems including acute fuel scarcity, precarious financial health of distribution companies (discoms) and hurdles in getting clearances continue to plague the Indian power sector.
"The growth in the domestic market is currently constrained...," Tata Power said.
The company is engaged in executing power generation projects, across domestic and international geographies, having a cumulative capacity of 1,151 MW.
These include 400 MW hydro plants in Georgia, 202 MW thermal project in Odisha and 234 wind plants in South Africa.
Further, Tata Power is actively pursuing opportunities to acquire land in strategic markets in the country.
"Your company is in the process of acquiring suitable land parcels in the states of Maharashtra, Rajasthan, Gujarat and Karnataka to develop solar and wind projects," it added.
Meanwhile, Tata Power in the annual report has emphasised domestic issues made the company pursue opportunities abroad.
"With a view to de-risk operations and investments in India owing to various domestic constraints and to harness opportunities internationally, your company made the decision to pursue growth outside India as well," it said.
The power producer, which already has presence in Indonesia and Africa, among other geographies, is seeking investment opportunities in South East Asian nations such as Vietnam, Myanmar and Indonesia.
"In addition, your company will also seek opportunities to acquire or tie-up energy resources across the globe. Assured access to fuel resources would ensure availability and enable de-risking of generation capacities from escalations in fuel cost," the report said.