Tata Power's renewable portfolio records 329% increase in Consolidated PAT from Q1FY17.

Tata Power, India's largest integrated power company, today announced that the Company's renewable portfolio in India has registered a healthy consolidated PAT of ₹142.18 crore in Q1 of FY18, a 329% increase from Q1FY17. The renewable business capacity of Tata Power crossed 2000 MW and non-fossil fuel portfolio stood at 3144 MW, a 92% increase from the corresponding quarter last year. Another 500 MW of capacity is under construction by Tata Power Renewable Energy Ltd (TPREL), Tata Power's wholly-owned subsidiary. The operating renewable portfolio of TPREL has grown to 1457.2 MW, comprising 530.2 MW wind and 927 MW solar respectively.

In keeping with its commitment to generate 30% - 40% power by 2025 through clean energy sources, Mr. Anil Sardana, MD & CEO, Tata Power, said, "The vision that Tata Power, has for its business is to be a market leader in the energy sector, with firm roots in sustainability. The steady growth of our renewable & clean portfolio has been a matter of great pride for us. In the last 5 years, we have become the largest renewable energy player and going forward, we will continue to invest in renewable energy projects, both organic and inorganic, as well as in cutting-edge technologies to maximize shareholder value."

Tata Power will continue to work towards ensuring its renewable business remains the largest renewable in the country.

Business | News published on 29/08/2017 by Rashmi Nargundkar

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