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Tata Power, one of India's largest private power companies, plans to increase its renewable energy capacity by about 71% to cut carbon emissions and reduce risks from fluctuating fuel prices.
The utility is adding 646.7 megawatts of renewable energy capacity, Tata Power said in a statement today.
The company has a gross installed capacity of 912 MW from clean energy sources, of which 447 MW comes from hydropower and 465 MW comes from renewable sources such as wind and solar power. Its total installed gross generation capacity in the country is about 8,560 MW.
"Our clean and renewable energy projects will allow us to reduce the overall carbon footprint and further diversify our energy portfolio to reduce fuel price risk. We intend to continue to improve our operational efficiency across all our businesses in the coming years," Anil Sardana, Managing Director of Tata Power, said in the statement.
The increase in clean energy capacity will come from solar, wind and hydro projects that Tata Power is building in the country and overseas.
The company has entered into power purchase agreements with Tata Power Renewable Energy Ltd (TPREL) for electricity generated from a 25 MW solar plant at Palaswadi and a 32 MW wind energy project at Ambheri, both located in Maharashtra.
Tata Power has also signed a purchase agreement with TPREL for wind energy from a 49.5 MW project in Pethshivpur.
The utility holds a 26% stake in the Dagachhu Hydroelectric Power Project in Bhutan, which is being implemented by Dagachhu Hydro Power Corp. The project will have an installed capacity of 126 MW.
Tata Power, through its joint-venture company Cennergi, is developing the 94.8 MW Tsitsikamma wind power project in South Africa, which is expected to be ready by FY17.
The joint venture is also executing a 134.4 MW wind power project in South Africa to be commissioned in FY17.
Tata Power is a partner of Adjaristsqali Georgia LLC (AGL), which is developing hydroelectric projects in southwest Georgia. AGL is expected to export power to Georgia and Turkey.
