Summary

  • Tata Power is one of  India's largest integrated power companies
  • Tata Power present across the entire power value chain of conventional & renewable energy, power services and next-generation customer solutions including solar rooftop, EV charging stations and home automation.
  • Tata Power, together with its subsidiaries & joint entities, has 12772 MW of generation capacity where 30% comes from clean and green sources.
  • Tata Power Renewable Energy commissions 100 MW solar project in Raghanesda Solar Park, Gujara in August 2021.

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Company Overview

Tata Power (NSE:TATAPOWER) is one of  India's largest integrated power companies, present across the entire power value chain of conventional & renewable energy, power services and next-generation customer solutions including solar rooftop, EV charging stations and home automation.1

Formerly known as Tata Electric, Tata Power has pioneered technology adoption in the utility sector  with many firsts to its credit including setting up India's first hydroelectric power station in 1915.

Tata Power, together with its subsidiaries & joint entities, has 12772 MW of generation capacity where 30% comes from clean and green sources. They look to shape the future through its green initiatives. From energy-saving power services, to making India EV ready with multi-city EV charging stations and being India's #1 rooftop solar provider, Tata Power is continuously delivering green technology for the smart consumer.

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Key Milestones

1915Commissioned first hydroelectric power generating system of 40 MW, subsequently upgraded to 72 MW at Khopoli
1922Commissioned second hydro power station of 40 MW, subsequently upgraded to 72 MW at Bhivpuri
1927Commissioned third hydro power station of 90 MW, subsequently upgraded to 150 MW at Bhira
2007Completed 50.4 MW Khandke wind farm project
2011Commissioned 3 MW Mulshi solar plant in Maharashtra
2012Commissioned 25 MW solar plant at Mithapur, Gujarat
2014Acquired 39.2 MW wind farm near Dwarka, Jamnagar in Gujarat
Completed commissioning of 32 MW wind farm project in Maharashtra
Commissioned 28.8 MW solar power project at Palaswadi, Maharashtra
2015Commissioned first cross border hydro power project registered under the United Nation Framework Convention on Climate Change’s (UNFCCC) Clean Development Mechanism for 126 MW at Dagachhu, Bhutan
2016Commissioned 120 MW Itezhi tezhi hydro power project in Zambia
Strengthened its renewable portfolio by commissioning 44 MW Lahori wind farm project in Madhya Pradesh
Acquired 1,010 MW renewable assets of Welspun
2017Constructed 187 MW hydro project in Georgia
Increased non-fossil operating capacity to 3060 MW
2018Integrated EV charging stations in Mumbai
Launched extensive residential solar rooftop solution across India
Developed 250 MW of solar projects in Tumkur, Karnataka and commissioned 100 MW Anantapur solar park in Andhra Pradesh
2019Won 105 MWp bid for one of the world’s largest floating solar plant to be installed at Kayamkulam, Kerala
Recognised for addressing the challenge of open defecation by the Government of Netherlands
Developed a 100 MW and a 250 MW solar project in Gujarat
Commissioned 150 MW solar project in Rajasthan
Partnered with NTT Com-Netmagic to build 50  MW solar power project

Products & Services

Power Supply

Caring for its 9.5 million customers across select cities, Tata Power, along with its partners, work on delivering uninterrupted power supply and beyond-the-meter services to ensure customer convenience and satisfaction.

city covers

  • MUMBAI
  • DELHI
  • AJMER
  • ODISHA

EV Charging Solutions

With Tata Power EV charging Solutions across Home, Office, Mall, Hotels, Retail Outlets and Places of Public Access.

The company provides EV Charging Solution for

  • Fleet Organization
  • Offices and Workplaces
  • Malls & Hotels
  • Homes & Housing Societies

EV Charging using Tata Power EZ charge app

Helps to locate charging point and has payment solution.

Solar Rooftops

India's Undisputed Solar Rooftop Leader with pan Indian presence.

  • Residential
  • Commercial & Industrial
  • Institution

Solar Pumps

The company's solar power pumps support various applications including field irrigation or supplying potable water for the communities, while drawing water from underground multiple water sources as per requirement.

  • Submersible Water Pumps
  • Surface Water Pumps

Solar Module and Cells

The company offer bankable tier-1 solar modules to multiple customer segments, with a range of configurations, power outputs and module sizes.2

Recognized as one of the Tier-1 bankable module manufacturer internationally, with over 1.4 GW modules shipped globally, Tata Power is known for its technology innovation and cutting-edge manufacturing.

Microgrids

TP Renewable Microgrid Ltd. will be operated and managed by Tata Power, India's largest integrated power company with approximately 11,000 MW of installed generation capacity and over 2.6 million customers under management across Delhi, Ajmer and Mumbai.3

Solar RO Systems

The company's solar powered water purifier solution provide the latest water cleansing technologies in remote and rural India.

Home Automation Solution

Tata Power EZ HOME is an IoT solution which allows you to operate, schedule, monitor appliances like lighting, fans, ACs, washing machines, geysers, TVs, refrigerators, etc. with your phone and with voice control via Google Assistant or Alexa. 4

  • Switches: Modular switches that work with Google Assistant and Alexa. Must haves for your smart home.
  • Convertors: Convert Your Conventional Switches to Smart Switches, and operate them from anywhere. These are Google Assistant and Alexa friendly.
  • Controllers: 120W Fan Electric Controller for your home. Works with Google Assistant and Alexa.

Plant & Projects

Solar Generation Projects

  • Mithapur - 25 MW
  • Pavagada - 150 MW

Wind Generation Projects

  • Poolavadi Wind Farm
  • Solar EPC Ground-Mount Projects
  • Anantapur-100 MW
  • Andhra Sugars - 3MW DC / 2.5MW AC

Solar Rooftop Projects

  • RSSB-EES - 12 MW
  • CCI - 820.8KWP
  • Cochi Carport - 2.67 MW
  • Suvidha Housing Society - 5.25 KW

Hydro Generation Projects

  • Bhira - 300 MW
  • Itezhi-Tezhi Hydro - 120 MW
  • Bhivpuri - 75 MW
  • Khopoli - 72 MW

Thermal Generation Projects

  • Maithon- 1050 MW
  • CGPL - 4150 MW
  • Trombay - 930 MW
  • Jojobera - 427.5 MW
  • IEL, Unit 5 ,Jamshedpur - 120 MW
  • Prayagraj - 1980 MW

Waste Heat Recovery Generation

  • Haldia - 120 MW
  • IEL, Unit 6, Jamshedpur - 120 MW
  • IEL, Kalinganagar + DG - 175 MW

Microgrids

  • Solar Microgrids - Ladakh, India - 1 MW
  • Solar Microgrid - Sundarbans, West Bengal, India - 110 KW

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Major Subsidiaries

India

  • Af-Taab Investment Company Limited
  • Chirasthaayee Saurya Limited
  • Clean Sustainable Solar Energy Private Limited (subsidiary of Walwhan Renewable Energy Limited)
  • Coastal Gujarat Power Limited
  • Dreisatz Mysolar24 Private Limited (subsidiary of Walwhan Renewable Energy Limited)
  • Dugar Hydro Power Limited
  • Industrial Energy Limited
  • Maithon Power Limited
  • MI Mysolar24 Private Limited (subsidiary of Walwhan Renewable Energy Limited)
  • NDPL Infra Limited (subsidiary of Tata Power Delhi Distribution Limited)
  • NELCO Limited
  • NELCO Network Products Limited (subsidiary of NELCO Limited)
  • Nivade Windfarm Limited (subsidiary of Tata Power Renewable Energy Limited)
  • Northwest Energy Private Limited (subsidiary of Walwhan Renewable Energy Limited)
  • Poolavadi Windfarm Limited (subsidiary of Tata Power Renewable Energy Limited)
  • Powerlinks Transmission Limited
  • Solarsys Renewable Energy Private Limited (subsidiary of Walwhan Renewable Energy Limited)
  • Supa Windfarm Limited
  • Tata Power Delhi Distribution Limited
  • Tata Power Green Energy Limited
  • Tata Power Jamshedpur Distribution Limited
  • Tata Power Renewable Energy Limited
  • Tata Power Solar Systems Limited
  • Tata Power Trading Co. Limited
  • Tatanet Services Limited (subsidiary of NELCO Limited)
  • TCL Ceramics Limited
  • TP Ajmer Distribution Limited
  • TP Akkalkot Renewable Limited
  • TP Central Odisha Distribution Limited
  • TP Kirnali Limited (subsidiary of Tata Power Renewable Energy Limited)
  • TP Kirnali Solar Limited
  • TP Northern Odisha Distribution Limited
  • TP Renewable Microgrid Limited
  • TP Roofurja Renewable Limited
  • TP Saurya Limited
  • TP Solapur Limited (subsidiary of Tata Power Renewable Energy Limited)
  • TP Solapur Solar Limited
  • TP Southern Odisha Distribution Limited
  • TP Western Odisha Distribution Limited
  • Walwhan Renewable Energy Limited (subsidiary of Tata Power Renewable Energy Limited)

Foreign

  • Bhira Investments Limited
  • Bhivpuri Investments Limited
  • Far Eastern Natural Resources LLC
  • Khopoli Investments Limited
  • PT Sumber Energi Andalan Tbk
  • Tata Power International Pte. Limited
  • Trust Energy Resources Pte. Limited

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Industry Overview

Global Power Sector

The global power sector is on the cusp of a major transformation with new energy sources and new players entering the arena of energy supply. Nations, corporates, individuals across the globe are rising to the cause of climate change, and are consciously opting for greener sources of energy, resulting in the rising share of renewables in the debate on power sector’s transition portfolio mix. The COVID-19 pandemic has further stimulated the debate on power sector’s transition from fossil fuels to cleaner energy sources. Additionally, electric vehicles, digitalisation, battery storage, cyber security, big data analytics, hydrogen fuel are some of the key emerging trends that could profoundly define the way the global power and renewable markets operate in the coming years. 5

The COVID-19 pandemic brought about unprecedented changes in 2020 to the power sector worldwide, with significant demand disruptions, supply chain bottlenecks, decline in fuel prices, changes in energy consumption profiles, asset sales and acquisitions. It imparted the worst ever impact delivered by any crisis on the global economy and the power sector. Global Gross Domestic Product (GDP) posted the biggest decline of -3.3% as per IMF April 2021 report in the past 20 years and the power demand contraction of 1% was the sharpest registered in more than 50 years. Power demand is likely to recover slowly from the COVID-19 disruptions, driven by developing economies such as China and India, which have shown growth resilience and a steady increase in power demand, following the easing of lockdown measures. While the extent of demand revival in 2021 remains to be seen, the roll out of vaccines and policy support-led revival in economic activities (6% world GDP growth projected for 2021 by IMF) create grounds for the recovery of power demand in most countries.

With an increasing number of nations responding to the challenge of climate change, the energy landscape is undergoing change, with greater focus being lent to cleaner sources of energy. More than 100 countries have pledged carbon neutrality by 2050 and many more such commitments are on the horizon. Similar announcements on the corporate front have gathered pace worldwide. Be it energy companies or those in the IT/technology space, both utility and non-utility companies are undertaking 100% carbon free initiatives.

Falling costs of wind and solar power are making way for increased investments in renewables that are now the preferred mode for energy generation and sourcing. Renewable capacity addition has beaten all previous records, with more than 260 GW being added in 2020, exceeding 2019 growth by 50% as per the report released by International Renewable Energy Agency (IRENA). Share of renewables in new capacity additions rose considerably for the second year in a row, accounting for more than 80% of the capacity additions, with solar and wind accounting for 91% of the renewables. As per International Energy Agency (IEA) World Energy Outlook 2020, renewables are expected to overtake coal as the primary means of producing global electricity in 2025.

Reduction in costs of newer technologies is helping greater penetration of such technologies and shifting the power profile towards more variable capacities. The same is leading to rising flexibility needs for power systems. Coal and gas fired power plants are currently the main source of flexibility in many systems, with additional contributions from hydro and nuclear. Energy storage systems are gaining strength, as evidenced from the rising number of new solar projects that come with battery storage, lower costs, improved performance indices and policy support are creating opportunities for battery storage market. The global energy storage market grew significantly even in the pandemic year, achieving record installations of 5.3 GW in 2020 from 3.4 GW in 2019, led by China, and followed by the US and Europe. It is expected to grow substantially in the next couple of years, with the Asia-Pacific region accounting for more than 50% of the global market share.

Indian Power Sector

India’s power sector witnessed many successes in the recent years, including energy access being extended to millions of households, the adoption of energy-efficient LED lighting by most households and expansion of renewable power sources, led by solar. However, the COVID-19 crisis has complicated the efforts to resolve other pressing issues that loom large across the power value chain. Among these are reliable power supply, the ailing financial health of Distribution Companies (Discoms) and rising pollution levels.

The year 2020 was marked by one of the biggest health challenges faced by the world. It impacted all segments of the economy, and the power sector was no exception. India’s demand for power fell significantly by 8.5% in the first half of FY21 but picked up pace in the second half of the fiscal, with the easing of lockdown measures. In fact, the country recorded the highest ever peak power utilisation of 190 GW in FY21.

The coal sector is set for revival in 2021, buoyed by improving economic activities, although the government’s thrust on renewable energy sources continues and the need for clean energy appearing to be more pressing than in pre-COVID times. The Government of India is focussing on renewable energy growth in alignment with sustainability and carbon emission reduction targets. It plans to raise renewable energy capacity from targeted level of 175 GW in 2022 to 450 GW by 2030. Even India’s coal behemoth, Coal India Limited (CIL), and its largest thermal power PSU, NTPC Limited, are diversifying into cleaner energy technologies.

Government has over the last year moved several regulatory and legislative changes to bring in reforms in the sector. Some of these changes are covered in the following section and the key highlights include privatization of Discoms in States and Union Territories, a special one-time liquidity infusion of ₹ 90,000 crore (that was scaled up to ₹1.35 lakh crore), focus on consumer rights through the Draft Electricity (Rights of Consumers) Rules, 2020, impetus to domestic solar manufacturing through Basic Custom Duty (BCD) imposition and Performance Linked Incentives (PLI) scheme, opening up commercial mining for private players, and announcement of ₹3.05 trillion reform-based result linked scheme for distribution. The success of some of these interventions like privatisation of Odisha Discoms will be key for setting trend in the sector.

Generation

India’s installed generation capacity stands at 382.15 GW as on 31st March 2021, which excludes 55 GW of captive generation capacity. Grid connected capacity addition during FY21 was 12 GW vis-à-vis 14 GW in FY20.

Thermal Generation

Coal-based capacities still account for more than half of India’s total installed capacity, though the share has been consistently declining over the past ten years from 75% in FY11 to about 55% in FY21, indicating subdued investor interest in the sector. This is also evident in the Plant Load Factor (PLF) of thermal plants that have witnessed a declining trend in the last decade, falling from 75% in FY11 to 54.49% in FY21.

Renewable Generation

Installation of renewables capacity has been on the rise from 11% share in FY11 to 25% in FY21. Several policy initiatives by the government have provided the muchneeded boost to the sector. Favourable cost economics has also provided impetus for the rapid increase in renewable based capacities. The government’s push towards clean energy has garnered interest among global investors, and this is reflected in project tenders getting oversubscribed amid strong participation by global investors and the cost of solar projects dropping further, as seen in the new record low tariff of ₹ 1.99/unit discovered in 500 MW solar projects of the Gujarat Urja Vikas Nigam Ltd. (GUVNL). Sustained enabling regulations for the renewables sector are visible through various policy interventions by the government, catering to both the demand and supply side, such as the ‘Must Run’ status for renewables, lifting of the tariff cap, thrust on domestic solar manufacturing, enhancing the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme, priority sector lending, Domestic Content Requirement (DCR) projects and so on. However, delay in Power Purchase Agreement (PPA) tie-ups, renegotiation/cancellation of bids, land issues, supply chain disruptions, etc. are some of the challenges that need to be resolved for the sector to meet its targeted growth

Fuel

Coal produced by CIL and its subsidiaries declined by 1% during FY21 to 596 MT (from 602 MT in the previous fiscal), missing its FY21 target of 660 MT. The decline is mainly due to lower demand from power plants during the fiscal amid reduced electricity requirement. Thermal coal imports declined sharply by 18% due to firm prices and high freight rates in the international market.

Transmission

The backbone transmission system in India is mainly through 765 kV, 400 kV and 220 kV AC networks, with the highest transmission voltage level being 800 kV (HVDC). Total transmission lines and substation capacity reached nearly 4.42 lakh Ckms and 10.25 lakh MVA respectively, reflecting an increase of about 16,750 Ckms and 57,575 MVA over the previous year. The National Electricity Plan (Volume II-Transmission) i.e. NEP-Trans, has been notified to review the development of transmission system during the 12th Plan Period, the current planning period 2017-22 and the subsequent period 2022-27.

With changing power generation mix on account of increase in renewables, the government is emphasizing on augmenting the transmission infrastructure to support demand growth. In order to expedite the development of transmission lines for solar parks under Green Corridor II (Under Green Corridor-I, Power Grid Corporation of India Limited is responsible for strengthening transmission networks and constructing inter-state transmission network for connecting renewable energy-rich states) and open-up private participation, which is still limited to 7%, the government has decided to award these projects to private players through TBCB.

Distribution

The distribution sector in India is going through a transformation. The issues of AT&C losses, payables to Gencos and overall effective management of the utility have been affecting the performance of the sector over the years. Discoms’ overdue to Gencos had crossed the ₹ 1 lakh crore mark in FY21 and stood at ₹ 67,417 crore as of February 2021, indicating the stress in the sector. The government has announced schemes and decisions towards addressing the issues in the sector with a liquidity injection of ₹ 90,000 crore (scaled up to ₹ 1.35 lakh crore) being announced under the COVID-19 relief package in May 2020. It also announced the push for the privatisation of Discoms of Union Territories (UT) and states. The Electricity Amendment Bill under discussion also highlights several measures planned, including delicensing the distribution business to increase competition in the sector and improve services for the customers. The Union Budget 2021-22 also saw a ₹3.05 trillion reform scheme for system improvement and smart metering in the distribution sector. Effective implementation of the proposed reforms would be key to ensuring the long term recovery and sustenance of the sector in the country.

Power Trading

Around 133 Billion Units (BUs) of electricity were traded in the short-term power market during FY21, as compared to a total of 137 BUs traded during FY20. Out of this, about 47% of the trading took place on power exchange platforms. The trading margins were under immense pressure due to the stiff competition amongst traders. The market is concentrated among ~10 larger players, with the remaining traders operating in regional pockets largely for trading their own power.

At ₹ 2.819 per unit, the average clearing price for spot markets in FY21 decreased by 6% as compared to the previous fiscal. This decrease is largely attributable to lower demand, primarily because of the impact of COVID-19 in FY21 on the economy and the manufacturing sector, and higher merchant capacity available for power sale on exchange platforms.

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Business Segments

The company’s generation business operates under various business models across divisions in the domestic as well as international markets, with the PPA/Fixed Tariff model contributing to the largest share of the generation segment.

The Indian market continues to remain the primary focus of business for the company. Currently, the domestic market accounts for more than 90% of its generation capacity.

Renewables Generation

The company is a leading player in the renewable generation space, with presence across the value chain. With the focus of the government on clean energy transition, specifically solar-based generation, significant growth opportunities in renewables (both organic and inorganic) are expected to arise in the future. The company plans to increase its footprint by capitalising on those opportunities through value-accretive projects. It will also evaluate opportunities for growth through upcoming models of hybrid, round-the-clock (RTC) supply and renewables with storage. Opportunities in the captive space for renewable generation are also being evaluated by the company. With significant focus on ‘Make in India’, the company is also planning to expand its solar cells and modules manufacturing capacity in the coming year to support its expansion plan as well as the renewables Engineering, Procurement and Construction (EPC) Business for DCR tenders. The company had leveraged this opportunity in last year and had doubled its solar PV manufacturing capacity to 1,100 MW of cell and modules under Tata Power Solar Systems Limited (TPSSL).

Thermal and Hydro Generation

In line with its intent of achieving carbon neutrality before 2050, the company plans to limit its exposure to coal-based projects and does not intend to expand its existing portfolio. The company does not have any greenfield or brownfield expansion plans in the near term but would continue to maintain the existing thermal and hydro operations in a sustainable manner. The company will, however, be evaluating inorganic opportunities that might come up in hydro power generation assets. It is also looking at opportunities in Industrial Energy Limited (IEL) waste heat recovery (WHR) based portfolio through its Joint Venture (JV) with Tata Steel Limited.

Transmission

The company is significantly focusing on augmenting and upgrading transmission infrastructure in its Mumbai operations. In addition, it will also look for suitable opportunities including acquiring a few stressed assets through M&A. While expanding its footprint, the company will also look at models for keeping the expansions debt light.

Distribution

With a view to improve the financial health of the distribution sector in India, the government is actively looking at adopting the PPP route for state-run distribution utilities. The last fiscal year saw a significant progress towards this intent, with bids for many utilities of states and UTs under the PPP model. The company foresees a considerable number of opportunities in this space in the near future. During the last year, the company acquired 4 new distribution entities in Odisha state (CESU, WESCO, SOUTHCO and NESCO). With this, the company now distributes electricity in the entire state of Odisha. It will continue to pursue similar opportunities through the PPP route in other states and UTs to fortify its leadership position in this space. Moreover, it will continue to explore services business opportunities in both domestic and international markets.

Consumer Businesses

The company has major plans to scale up Consumer businesses such as rooftop solar, EV charging, solar pumps, microgrids, energy efficiency solutions and home automation.

It has collaborated with Original Equipment Manufacturers (OEMs) to roll out EV charging infrastructure and aims to expand its presence further in many cities pf India. The company has also developed a robust software platform for customers of EV charging and has released a mobilebased application (Tata Power EZCharge) towards the same effect. This would enable the company to offer value-added services to its customers. With the increase in EV adoption, the company plans to cover the segments of home, workplace and captive charging (including e-Bus charging) through different models and approaches. It is also actively evaluating opportunities in the electric 3-wheeler and 2-wheeler charging market.

In the space of rooftop solar, the company has presence in more than 180 districts of India and has rolled out differentiated value-added services with its offerings across segments (residential, commercial and Industrial, including corporates, owners, MSMEs, institutions and small commercial establishments). The company has recognised the opportunities arising in rooftop solar and is developing new offerings and models to enhance its adoption among consumers, including financing solutions, extending the EPC model, recurring revenue model and other value-added offerings.

The company has rolled out microgrids in rural India to provide innovative solutions for the under-served communities and expand the global microgrid footprint. It has installed around 161 microgrids till March 2021 and is evaluating different approaches and models for scaling up this business.

The company has identified eight business-wide Strategic Business Objectives (SBO) for a focused approach towards capitalising on the opportunities. You may refer to page number 21 of the Integrated Report for a detailed explanation of these SBOs along with goals and action plans to achieve these objectives.

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Financial Highlights

The Operating Revenue was at Rs 33,079 crore in FY21 compared to Rs 28,948 crore in FY20 on a consolidated basis. This is mainly due to acquisition of three Odisha Distribution Companies (Discoms) and execution of major solar Engineering, Procurement and Construction (EPC) projects during the year. Operating Profit was at Rs 7,605 crore which is marginally lower by 3% compared to previous year mainly due to favourable tariff order in Maithon Power Limited (MPL) in previous year, lower PLF from wind farms offset by lower losses in Coastal Gujarat Power Limited (CGPL) on account of lower coal prices and higher profit from Prayagraj acquisition. Finance costs decreased from Rs 4,494 crore to Rs 4,010 crore mainly due to repayment of loans from sale of non-core assets, issue of preferential capital and lower rate of interest. The profits from Joint Ventures (JV) and Associates were lower mainly due to lower profits from Indonesian coal mines due to lower coal prices.

The Consolidated Profit after tax in FY21 was at Rs 1,439 crore compared to Rs 1,316 crore in FY20 mainly due to lower losses in CGPL on account of lower coal prices, higher profit from Prayagraj acquisition and lower finance cost.

Tata Power Q1FY22 results

2021-08-06; Tata Power, India's largest integrated power company, today announced its results for the quarter ended 30th June, 2021.6

Q1FY22 Consolidated PAT before Exceptional Items stood at ₹466 crore, up 74% from ₹268 crore in Q1FY-21, driven by consistent performance by all businesses, reduction in finance cost and higher execution of EPC projects

Q1FY22 Consolidated EBITDA stood at ₹ 2,365 crore, up 16% from ₹2,037 crore in Q1FY21 including Renewable EBITDA of ₹ 643 crore up 9% as compared to ₹ 588 crore in Q1FY21 mainly due to higher wind & solar power generation , all round better performances in Solar EPC, rooftop, solar pumps business and favorable tariff order for CGPL

Performance Highlights:

Consolidated

For the Quarter ended June 30th, 2021:

Tata Power's consolidated Q1 FY22 Revenue stood at ₹ 9,831 crore up 47 % as compared to ₹ 6,671 crore in Q1 FY21 mainly due to acquisition of Odisha Discoms and higher sales/execution in its solar EPC businesses

Q1 FY22 Consolidated PAT after exceptional items was up 74% at ₹ 466 crore compared to ₹ 268 crore in Q1 FY21 mainly due to higher wind & solar power generation, all round better performances in Solar EPC, rooftop, solar pumps business and favorable tariff order for CGPL.

Standalone

For the quarter ended Q1 FY22, Standalone Revenue stood at ₹ 1,788 crore up 22% against ₹ 1,469 crore in the Q1 FY21 due to higher generation

EBITDA stood at ₹ 937 crore up 44% against ₹ 649 crore in Q1 FY21 mainly due to higher dividend income from its subsidiaries

PAT after exceptional items stood at ₹ 198 crore up 340 % as compared to ₹ 45 crore in Q1 FY21 due to higher dividend income offset by MAT credit reversal due to change in tax regime

Commenting on the Company's performance, Dr. Praveer Sinha, CEO & Managing Director, Tata Power said, "All its existing generation, distribution and transmission business units have reported a robust performance despite the challenges presented by the ongoing pandemic. This can be attributed to the excellent performance of all its businesses and capacity additions.

The company aim to scale up its renewable portfolio from the current 4GW to 15GW by 2025 and to 25GW by 2030 thereby achieving 80% clean generation capacity, up from the current 31%.

The company will continue to expand and promote the mass adoption of rooftop solar & solar pumps, microgrids, home automation and focus on developing the EV charging infrastructure in the country.

Tata Power is happy to announce its re-entry into the development of greenfield Transmission Projects. The company's partnership with the country's leading T&D EPC player "Tata Projects" will make it a force to reckon with. This would further accelerate the momentum of "Power for All" initiative of the Government of India.

As part of its ESG focus, Tata Power obtained a score of 67 out of 100 in CRISIL's ESG ratings, the highest among all companies in the Indian Power Sector.

Tata Power is Future-Ready for a cleaner tomorrow and aim to capitalise on opportunities across hybrid renewable projects, floating solar and strengthen its partnerships for battery storage projects.

Despite the downside risks posed by COVID, the company remain optimistic and will continue to build a resilient tomorrow and advance its sustainability goals."

Recent developments

Tata Power Renewable Energy commissions 100 MW solar project in Gujarat 7

Aug 13, 2021; ata Power Renewable Energy Ltd has commissioned a 100 MW solar project at Raghanesda Solar Park, Gujarat. The installation will reduce 2,00,000 tonnes of carbon emission every year. Raghanesda Solar Park, located in the Banaskantha district of Gujarat, is one of the biggest solar parks in the country, a statement said.

Tata Power Renewable Energy Ltd (TPREL), a wholly-owned subsidiary of Tata Power, has successfully commissioned the 100 MW Solar Power project at Raghanesda Solar Park, Gujarat, it added.

This project is another landmark for TPREL, as in the first year of its operation, the plant is expected to generate 255 million units, the statement noted.

The project was awarded by Gujarat Urja Vikas Nigam Ltd (GUVNL). With this addition of 100 MW, the total installed capacity of TPREL will be 2,797 MW with 1,865 MW of solar and 932 MW of wind. It has 1,234 MW of renewable projects under implementation.

Tata Power CEO and MD Praveer Sinha said, "Tata Power is proud to announce that TPREL has commissioned the 100MW project at one of the biggest solar parks in the country in Gujarat. Tata Power is steadfast in its conviction towards promoting the realisation of clean and green energy in the country through solar power generation".

Despite various challenges faced on account of COVID-19 by the industry, TPREL through Tata Power's EPC arm Tata Power Solar Systems Limited has completed the project within the timelines due to its excellent project execution experience and capabilities.

References

  1. ^ https://www.tata.com/business/tata-power
  2. ^ https://www.tatapower.com/products-and-services/solar-module-and-cells.aspx
  3. ^ https://www.tatapower.com/products-and-services/micro-grids.aspx
  4. ^ https://www.tatapower.com/ezhome/
  5. ^ https://www.tatapower.com/investor-relations/tata-power-2021/pdf/TataPower-full-annual-report-2021.pdf
  6. ^ https://www.equitybulls.com/admin/news2006/news_det.asp?id=295521
  7. ^ https://economictimes.indiatimes.com/industry/renewables/tata-power-renewable-energy-commissions-100-mw-solar-project-in-gujarat/articleshow/85296824.cms
Tags: IN:TATAPOWER
Created by Asif Farooqui on 2021/09/13 20:07
     

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  32. CA:CM
  33. CA:CNQ
  34. CA:CNR.TO
  35. CA:CP
  36. CA:CSU
  37. CA:CU
  38. CA:CVE
  39. CA:EMA
  40. CA:ENB
  41. CA:FFH
  42. CA:FM
  43. CA:FSV
  44. CA:FTS
  45. CA:GFL
  46. CA:GIB
  47. CA:GWO
  48. CA:IFC
  49. CA:IMO
  50. CA:K
  51. CA:LULU
  52. CA:MFC
  53. CA:MG
  54. CA:MRU
  55. CA:MX
  56. CA:NA
  57. CA:NG
  58. CA:NTR
  59. CA:OTEX
  60. CA:POW
  61. CA:PVG
  62. CA:QSR
  63. CA:RBA
  64. CA:RCI.A
  65. CA:RY
  66. CA:SHOP
  67. CA:SJR.B
  68. CA:SLF
  69. CA:SSRM
  70. CA:SU
  71. CA:T
  72. CA:TA
  73. CA:TARD
  74. CA:TD
  75. CA:TECK
  76. CA:TFII
  77. CA:TRI
  78. CA:TRP
  79. CA:WEED
  80. CA:X
  81. CA:YRI
  82. Canada
  83. CH:ALSN
  84. CH:NESN
  85. CIPLA
  86. DE:TIMA
  87. EU:CCAP
  88. EU:HHFA
  89. FR:CEN
  90. FR:HCO
  91. GB:AAL
  92. GB:ABDN
  93. GB:ABF
  94. GB:ADM
  95. GB:AHT
  96. GB:ANTO
  97. GB:AUTO
  98. GB:AUY
  99. GB:AV
  100. GB:AVST
  101. GB:AVV
  102. GB:AZN
  103. GB:BA
  104. GB:BARC
  105. GB:BATS
  106. GB:BDEV
  107. GB:BHP
  108. GB:BME
  109. GB:BP
  110. GB:CCH
  111. GB:CPG
  112. GB:CTO
  113. GB:DARK
  114. GB:DGE
  115. GB:FERG
  116. GB:GLEN
  117. GB:HL
  118. GB:HSBA
  119. GB:IHG
  120. GB:III
  121. GB:IMB
  122. GB:INCH
  123. GB:NWG
  124. GB:NXR
  125. GB:OCDO
  126. GB:REL
  127. GB:RKT
  128. GB:SGE
  129. GB:SGRO
  130. GB:SKG
  131. GB:SMIN
  132. GB:SN
  133. GB:STAN
  134. GB:ULVR
  135. Great Britain
  136. HK:0995
  137. HK:1052
  138. HK:107
  139. HK:189
  140. HK:548
  141. HK:819
  142. HK:995
  143. IN:3MINDIA
  144. IN:ADANITRANS
  145. IN:BHARATFORG
  146. IN:CIPLA
  147. IN:CROMPTON
  148. IN:GODREJIND
  149. IN:HDFCAMC
  150. IN:IDEA
  151. IN:INDUSTOWER
  152. IN:LICI
  153. IN:LUPIN
  154. IN:LUPINE
  155. IN:MFSL
  156. IN:MOFSL
  157. IN:MOTHERSUMI
  158. IN:MUTHOOTFIN
  159. IN:NATCOPHARM
  160. IN:NATIONALUM
  161. IN:NBCC
  162. IN:NESTLEIND
  163. IN:NIACL
  164. IN:NMDC
  165. IN:OBEROIRLTY
  166. IN:OFSS
  167. IN:PAGEIND
  168. IN:PAYTM
  169. IN:PEL
  170. IN:PETRONET
  171. IN:PFIZER
  172. IN:PGHH
  173. IN:PIDILITIND
  174. IN:PIIND
  175. IN:PNB
  176. IN:PNBHOUSING
  177. IN:POWERGRID
  178. IN:QUESS
  179. IN:RAMCOCEM
  180. IN:RELAXO
  181. IN:SAIL
  182. IN:SANOFI
  183. IN:SBILIFE
  184. IN:SIEMENS
  185. IN:SRF
  186. IN:SUPREMEIND
  187. IN:TATAPOWER
  188. IN:TECHM
  189. IN:TITAN
  190. IN:TORNTPHARM
  191. IN:TORNTPOWER
  192. IN:TRENT
  193. IN:TVSMOTOR
  194. IN:UBL
  195. IN:ULTRACEMCO
  196. IN:UNIONBANK
  197. IN:UPL
  198. IN:VBL
  199. IN:WHIRLPOOL
  200. IN:ZEEL
  201. India
  202. Ireland
  203. JP:1070
  204. JP:2654
  205. JP:4220
  206. JP:4734
  207. JP:6916
  208. SG:BCY
  209. SG:F13
  210. UK:IHG
  211. US:AABA
  212. US:AAOI
  213. US:AAPL
  214. US:AAUKF
  215. US:ABEO
  216. US:ABUS
  217. US:ACAD
  218. US:ACAN
  219. US:ACBFF
  220. US:ACDVF
  221. US:ACHN
  222. US:ACIA
  223. US:ACRX
  224. US:ADAP
  225. US:ADMP
  226. US:ADMS
  227. US:ADXS
  228. US:AEM
  229. US:AEZS
  230. US:AFMD
  231. US:AGEN
  232. US:AGI
  233. US:AGRX
  234. US:AGTK
  235. US:AKAO
  236. US:ALDR
  237. US:ALIM
  238. US:ALQA
  239. US:AMC
  240. US:AMD
  241. US:AMDA
  242. US:AMIGF
  243. US:AMMJ
  244. US:AMN
  245. US:AMPE
  246. US:AMRN
  247. US:AMRS
  248. US:AMZN
  249. US:ANCUF
  250. US:ANFGF
  251. US:ANLDF
  252. US:ANTH
  253. US:ANY
  254. US:APHQF
  255. US:AQMS
  256. US:AQSZF
  257. US:ARDX
  258. US:ARGS
  259. US:ARLZ
  260. US:ARNA
  261. US:ARRY
  262. US:ARWR
  263. US:ASBFF
  264. US:ASHTF
  265. US:ATDRY
  266. US:ATHX
  267. US:ATNM
  268. US:ATOS
  269. US:ATRS
  270. US:AUPH
  271. US:AUY
  272. US:AVASF
  273. US:AVEO
  274. US:AVEVF
  275. US:AVGR
  276. US:AVIR
  277. US:AVP
  278. US:AVVIY
  279. US:AVXL
  280. US:AXON
  281. US:AXSM
  282. US:AZN
  283. US:BABA
  284. US:BAC
  285. US:BAESF
  286. US:BAM
  287. US:BBRY
  288. US:BCE
  289. US:BCOR
  290. US:BCS
  291. US:BHC
  292. US:BHP
  293. US:BIOA
  294. US:BIOC
  295. US:BLCM
  296. US:BLDP
  297. US:BLEVF
  298. US:BLOZF
  299. US:BLPH
  300. US:BLRX
  301. US:BMO
  302. US:BMRPF
  303. US:BNS
  304. US:BP
  305. US:BPMX
  306. US:BSTG
  307. US:BTDPF
  308. US:BTE
  309. US:BTG
  310. US:BTI
  311. US:BW
  312. US:BZUN
  313. US:CALA
  314. US:CANN
  315. US:CAPR
  316. US:CARA
  317. US:CASC
  318. US:CATB
  319. US:CBDS
  320. US:CCJ
  321. US:CEI
  322. US:CERC
  323. US:CERU
  324. US:CHK
  325. US:CIE
  326. US:CLDX
  327. US:CLF
  328. US:CLOV
  329. US:CLSN
  330. US:CLVS
  331. US:CM
  332. US:CMPGF
  333. US:CNAB
  334. US:CNAT
  335. US:CNBX
  336. US:CNI
  337. US:CNQ
  338. US:CNSWF
  339. US:CORT
  340. US:CP
  341. US:CPRX
  342. US:CRBP
  343. US:CRIS
  344. US:CRMD
  345. US:CTRV
  346. US:CU
  347. US:CUR
  348. US:CVE
  349. US:CVSI
  350. US:CYCC
  351. US:CYTR
  352. US:CYTX
  353. US:DCTH
  354. US:DEPO
  355. US:DGEAF
  356. US:DMPI
  357. US:DRKTF
  358. US:DRYS
  359. US:DVAX
  360. US:DXTR
  361. US:DYLLF
  362. US:EARS
  363. US:ECYT
  364. US:EDIT
  365. US:EGLT
  366. US:EKSO
  367. US:ELVT
  368. US:ENB
  369. US:ENDP
  370. US:ENRT
  371. US:ETRM
  372. US:EVC
  373. US:EXEL
  374. US:FATE
  375. US:FB
  376. US:FERG
  377. US:FINL
  378. US:FIT
  379. US:FLXN
  380. US:FOLD
  381. US:FQVLF
  382. US:FRFHF
  383. US:FSV
  384. US:FTR
  385. US:FTS
  386. US:FVE
  387. US:FWDG
  388. US:GALE
  389. US:GALT
  390. US:GBHPF
  391. US:GBT
  392. US:GERN
  393. US:GFL
  394. US:GIB
  395. US:GILD
  396. US:GLDFF
  397. US:GLEN
  398. US:GLYC
  399. US:GME
  400. US:GNCA
  401. US:GNMX
  402. US:GOLD
  403. US:GPRO
  404. US:GSAT
  405. US:GVXXF
  406. US:GWLIFU
  407. US:HLTH
  408. US:HMNY
  409. US:HRGLF
  410. US:HRTX
  411. US:HSBA
  412. US:HTGM
  413. US:HTZ
  414. US:HUSA
  415. US:ICPT
  416. US:IDRA
  417. US:IDXG
  418. US:IFCZF
  419. US:IHG
  420. US:IMBBF
  421. US:IMGN
  422. US:IMMU
  423. US:IMNP
  424. US:IMO
  425. US:IMUC
  426. US:INFI
  427. US:INPX
  428. US:INSM
  429. US:INVA
  430. US:ITEK
  431. US:IVITF
  432. US:JD
  433. US:JOBS
  434. US:JVA
  435. US:KAYS
  436. US:KEM
  437. US:KERX
  438. US:KGC
  439. US:KTOS
  440. US:KTOV
  441. US:LKM
  442. US:LODE
  443. US:LPCN
  444. US:LULU
  445. US:LXRP
  446. US:MACK
  447. US:MARA
  448. US:MBOT
  449. US:MBRX
  450. US:MDCL
  451. US:MDCO
  452. US:MEET
  453. US:MEIP
  454. US:MEOH
  455. US:MFC
  456. US:MGA
  457. US:MGWFF
  458. US:MNKD
  459. US:MOMO
  460. US:MQPXF
  461. US:MRNS
  462. US:MRTX
  463. US:MSFT
  464. US:MTRAFU
  465. US:MU
  466. US:MVIS
  467. US:MZOR
  468. US:NAK
  469. US:NBEV
  470. US:NBRV
  471. US:NEOS
  472. US:NG
  473. US:NH
  474. US:NLNK
  475. US:NMUS
  476. US:NTIOF
  477. US:NTNX
  478. US:NTR
  479. US:NVAX
  480. US:NVCN
  481. US:NVDA
  482. US:NVRO
  483. US:NWBO
  484. US:NWG
  485. US:NXTTF
  486. US:NYMX
  487. US:OCDGF
  488. US:OCLR
  489. US:OCUL
  490. US:OGRMF
  491. US:OMER
  492. US:ONCS
  493. US:ONTX
  494. US:ONVO
  495. US:OPGN
  496. US:OPHT
  497. US:OPK
  498. US:OPTT
  499. US:OTEX
  500. US:OTIC
  501. US:P
  502. US:PANXF
  503. US:PBYI
  504. US:PETS
  505. US:PETX
  506. US:PGNX
  507. US:PHOT
  508. US:PIRS
  509. US:PLSE
  510. US:PLUG
  511. US:PLX
  512. US:PRTO
  513. US:PSDV
  514. US:PTI
  515. US:PTN
  516. US:PTX
  517. US:PUFXF
  518. US:PULM
  519. US:PVG
  520. US:QRSRF
  521. US:QSR
  522. US:RAD
  523. US:RBA
  524. US:RBGPF
  525. US:RCI
  526. US:RCKT
  527. US:RDHL
  528. US:RDUS
  529. US:RELX
  530. US:REPH
  531. US:RGLS
  532. US:RIGL
  533. US:RNN
  534. US:RNVA
  535. US:ROX
  536. US:RSSFF
  537. US:RTTR
  538. US:RY
  539. US:SCYX
  540. US:SDRL
  541. US:SEGXF
  542. US:SENS
  543. US:SESN
  544. US:SGBY
  545. US:SGGEF
  546. US:SGMO
  547. US:SGYP
  548. US:SHOP
  549. US:SJR
  550. US:SKLN
  551. US:SLF
  552. US:SLFPF
  553. US:SMFTF
  554. US:SMGKF
  555. US:SNAP
  556. US:SNN
  557. US:SPHS
  558. US:SPLIF
  559. US:SPRWF
  560. US:SQ
  561. US:SRNA
  562. US:SRNE
  563. US:SRRA
  564. US:SSRM
  565. US:STLY
  566. US:STML
  567. US:STMP
  568. US:STRRF
  569. US:SU
  570. US:SWN
  571. US:SYN
  572. US:TAC
  573. US:TBQBF
  574. US:TD
  575. US:TECK
  576. US:TENX
  577. US:TEVA
  578. US:TFII
  579. US:TGOPF
  580. US:TGTX
  581. US:THCBF
  582. US:TK
  583. US:TMXXF
  584. US:TNDM
  585. US:TOP
  586. US:TRI
  587. US:TROV
  588. US:TRP
  589. US:TRTC
  590. US:TRVN
  591. US:TRXC
  592. US:TSG
  593. US:TSLA
  594. US:TTM
  595. US:TTNP
  596. US:TTNQY
  597. US:TU
  598. US:TVTY
  599. US:TWTR
  600. US:TXMD
  601. US:UBQU
  602. US:UNXL
  603. US:VAPE
  604. US:VBLT
  605. US:VCEL
  606. US:VDQSF
  607. US:VPCO
  608. US:VSTM
  609. US:WIT
  610. US:WLDFF
  611. US:WLL
  612. US:WMIH
  613. US:WMT
  614. US:XGTI
  615. US:XON
  616. US:XTNT
  617. US:XXII
  618. US:ZGNX
  619. US:ZSAN
  620. US:ZYNE
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