Tata Power’s renewable portfolio in India has registered a healthy profit of Rs 173 crore in Q2 of FY18, a 101% increase from Q2FY17 led by profits from the renewable acquisition. Additionally, the company also announced that its consolidated underlying EBITDA for the quarter is up by 16% due to strong operating performance of all its businesses. The non fossil fuel portfolio stood at 3210 MW as of November 05, 2017, a healthy increase from the corresponding quarter last year.
In line with its commitment to grow its renewable energy portfolio, Tata Power recently added a 30 MW solar power plant in Palaswade, developed by its wholly owned subsidiary, Tata Power Renewable Energy (TPREL). The plant is expected to produce over 62 million KWH of solar power annually. Tata Power added 31 new solar sites and 2 wind sites as part of acquisition of Welspun. With this, the company and its subsidiaries now operate in 13 states and 75 sites.
Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
