Tata Power, along with its Norwegian partner SN Power, is scouting for hydroelectric projects in India and Nepal.
The company in partnership with SN Power already has two hydro projects in its kitty, including the 880-megawatt (MW) project at Tamakoshi in Nepal.
When asked whether the two entities were looking for other opportunities, Tata Power Executive Director (Finance), Mr S Ramakrishnan said, “Yes, the joint venture is scouting for other opportunities both in India and Nepal... The Tamakoshi hydro power project in Nepal is at an early stage of development and is awaiting government approvals.”
Tata Power has an installed capacity of 3,648 MW, out of which 500 MW is from hydro projects.
CLEAN SOURCES
Mr Ramakrishnan said the company has “aggressive plans of generating 25,000 MW by 2017 and intends to have a 20-25 per cent contribution in energy generated at all times from clean power sources, including a mix of hydro, solar, wind, geothermal and waste gas generation.”
However, he did not divulge specific investment figures for renewables.
Of Tata Power's total installed capacity, wind and solar account for 348 MW and 3 MW, respectively, at present.
Mr Ramakrishnan said the company expects to add 30 MW of solar power every year.
Tata Power is implementing a 25 MW solar project in Mithapur, Gujarat, which is expected to commence commercial operations this month.