Monday, July 22, 2013: Tata Power, one of the country’s largest private electricity producers is now laying stress upon the acquisition of domestic opportunities amidst all the “stress” that is associated with the sector.
The company has already completed installation of 8,500 MW capacity projects and these acquisitions would help it further strengthen the footprint in the renewable energy sector, largely the wind and solar power segments.
According to the 2012-13 annual report for the company, the very stress that is currently haunting the solar market segment is India has also opened up opportunities for acquisitions. The company will henceforth evaluate all opportunities for acquiring projects all across the country that are in various stages of development.
Tata feels that these acquisitions will leverage its position as one of the prime power producers in the country while helping the value chain for the same. There are series of problems that have been bothering the domestic industry including poor financial status of the distribution companies, the shortage of fuel and the political and tactical hurdles that plagues the solar power sector in the country.
The cumulative of all renewable energy projects in the domestic and international geographies amount to 1,151 MW including the 234 wind plants in South Africa, 400 MW hydro power plants in Georgia and a 202 MW thermal plant in Odisha.
Tata Power is further looking to acquiring land in some of the strategic markets in the country. This, according to statement by the company, includes land parcels in Gujarat, Karnataka, Rajasthan and Maharashtra. To de-risk the operations in India, international opportunities are also being looked at. Tata Powers already has presence in Africa, Indonesia, Myanmar and Vietnam.