Tata Power Bets On Renewable, Rooftop Solutions Business
Tata Power Ltd. anticipates threefold growth in its renewable energy segment comprising utility solar and roof-top solar solutions.
“We're looking aggressively expand our rooftop solar unit, for which we’ve identified 100 cities. We're setting up a large dealer and retail network and sales force in all cities,” Praveer Sinha, managing director and chief executive officer, Tata Power, told BloombergQuint.
He also said the company will branch out to more tier-two and tier-three cities.
Highlights from the conversation:
High-Power Committee Report
- The panel had many interactions with power producers, beneficiary states and consumer groups.
- Expects the committee report in seven-ten days.
Change In Coal Import Laws In Indonesia
- Technically not possible to use 100 percent domestic coal in Coastal Gujarat Power Ltd. plant.
- Indian coal not viable as its effective calorific value is much lower.
On Resolution And Stressed Assets
- The resolution process is good and transparent.
- Many stressed plants don’t have power purchase agreements and fuel supply, which is critical for maximising the output.
- We have bid for Prayagraj Plant through our Resurgent Power platform with ICICI Bank Ltd. and expect to complete it in the next two-four months.
Debt Reduction Drive
- We have already started the process of deleveraging our balance sheet.
- Some non-core assets sold and revenue will be used to further improve our debt-equity ratio.
- We will look for growth opportunities or we will go for expansion in renewable energy, distribution and transmission.
- Tata projects non-core divestment will spill over to the next year.
Renewables, Rooftop Solutions Business
- Cautious in terms of quotes given in utility business. Our bids have always been setting a benchmark.
- Working with state governments to set up solar pumps.
- Working on unique solutions on micro-grids and plan to launch it in next six months to one year.