About
Tata Power Company Ltd
Tata Power Company Limited is India's largest integrated private power company, with a significant international presence. The Company was amongst the pioneers in generation of electricity in India more than a century ago. The Company has an installed generation capacity of 6,075 MW in India and a presence in all the segments of the power sector viz. Generation (thermal and hydro), Transmission and Distribution.
The Company is present across the entire value chain of power business viz. Generation, Transmission, Distribution, Power Trading, Power Services, Coal Mines and Logistics, Solar PV manufacturing and associated Engineering, Procurement and Construction services (EPC), Consumer facing businesses such as solar rooftop, solar pumps, EV charging, home automation and microgrid.
The Company has presence in all the segments of power sector, viz. Fuel & Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely 'Tata Power Delhi Distribution Limited' with Delhi Government for distribution in North Delhi, Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and Maithon Power Ltd.' with Damodar Valley Corporation for a 1,725 MW Mega Power Project at Jharkhand.
Tata Power is one of the largest renewable energy players in India and has developed the country's first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. Tata Power has signed a Distribution Franchisee Agreement (DFA) with Ajmer Vidyut Vitran Nigam Limited (AVVNL) and formed a Special Purpose Vehicle (SPV) 'TP Ajmer Distribution Limited' (TPADL), to cater to the power requirements of customers in Ajmer.
Tata Power's international presence includes strategic investments in Indonesia through 30% stake in the leading coal company PT Kaltim Prima Coal (KPC) in Singapore through Trust Energy Resources to securitise coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called Cennergi' to develop projects in South Africa, Botswana and Namibia; in Australia through investments in clean coal technologies and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.
Tata Power Company Limited was incorporated in September 18, 1919. The Company commissioned its first hydro electric power generating station commissioned at Khopoli in the year 1915 with an installed capacity of 40 MW, which was subsequently upgraded to 72 MW. In the year 1922, they commissioned another hydro power station at Bhivpuri with an installed capacity of 40 MW, subsequently upgraded to 72 MW. In the year 1927, they set up Third Hydro power station of 90 MW capacity at Bhira, which was subsequently upgraded to 150 MW.
In the year 1956, the company set commissioned a major thermal power station of 62.5 MW capacity at Trombay, to meet the increasing demand of electricity. Also, they set commissioned two more thermal units of similar capacity i.e. 62.5 MW in the years 1957 and 1960 respectively. In the year 1965, they set up Fourth thermal unit of 150 MW capacity at Trombay.
In the year 1984, the company commissioned India's first 500 MW generating unit with multi-fuel burning capability at Trombay. In the year 1990, they set up Second 500 MW thermal unit at Trombay. In the year 1994, the company commissioned a gas-based 180 MW capacity combined cycle plant to provide quick-start capacity to Trombay Thermal Station and to ensure reliable and uninterrupted supply for essential services in Mumbai.
In the year 1996, the company commissioned the 150 MW Pumped Storage Unit at Bhira. Also, they set up 67.5 MW Thermal Power Plant at Jojobera (Jharkhand). In the year 2000, The Tata Hydro-Electric Co. Ltd., The Andhra Valley Power Supply Co. Ltd., and the Tata Power Co. Ltd., are amalgamated to become one entity- The Tata Power Company Limited. Also, they commissioned a unit of 120 MW at Jojobera.
In the year 2001, the company set up 81.3 MW diesel generator based plant at Belgaum, Karnataka. In the year 2003, the company entered into a joint venture with PowerGrid Corporation of India Ltd., to develop a 1200 Km long transmission line to bring electricity from Bhutan to Delhi. In the year 2004, the company incorporated a wholly owned subsidiary company, known as Tata Power Trading Co. Ltd. for the power trading business. In the year 2005, the company commissioned the unit 4 of 120 MW capacity at Jojobera.
In the year 2006-07, the company completed the acquisition of 30% equity in Indonesian Coal Mines, PT Kaltim Prima Coal (KPC), and PT Arutmin Indonesia, as well as trading companies from PT Bumi Resources. In the year 2008, the unit 1 of 2 x 45 MW Phase of Haldia Project is synchronised with the grid. Also, the company commissioned the expansion project of 250 MW (Unit # 8) at Trombay.
During the year 2009-10, the company successfully completed the overhaul of Unit 5 during which the Unit underwent major renovation and modernization. The company commissioned Unit 3 of 30 MW, resulting in increase in the installed capacity of the plant to 120 MW. These Units use hot coke oven gas from Hooghly Metcoke and Power Company Limited to produce steam for power generation. Also, the company commissioned an additional 42 MW of wind power capacity, taking the total capacity to 201 MW.
During the year 2010-11, the company commissioned an additional 6 MW of wind power capacity in Maharashtra, taking the total installed wind power capacity in Mumbai Operations to 106 MW. Also, the company acquired a 21 MW wind farm, taking the total installed capacity outside Mumbai operations to 122 MW.
In 2012, Tata Power commissioned a 25 MW solar plant at Mithapur in Gujarat. During the year under review, Tata Power commissioned 1050 MW Maithon power project. During the year under review, Tata Power acquired 26% stake in large mines at PT Baramulti Suksessarana Tbk (BSSR), Indonesia. In 2013, Tata Power implemented the first 4000 MW Ultra Mega Power Project of India at Mundra, Gujarat based on super critical technology.
In 2014, Tata Power exited from Indonesian coal mine PT Arutmin Indonesia. During the year under review, Tata Power acquired a 39.2 MW wind farm near Dwarka, Jamnagar in Gujarat. During the year under review, Tata Power commissioned 28.8 MW solar power project at Palaswadi in Maharashtra. During the year under review, the company completed the commissioning of 32 MW Wind farm project in Maharashtra. In 2015, Tata Power's Joint-Venture Maithon Power Limited (MPL) commenced flow of energy to Kerala on a Long Term Agreement basis.
In 2016, Tata Power's Joint-Venture commissioned 120 MW Itezhi Tezhi hydro power project in Zambia. During the year under review, Tata Power partnered with Toshiba and Cargill to design and develop India's first green, safe and compact natural ester-based pad mount substation.
On 12 June 2016, Tata Power Company (Tata Power) announced that its 100 percent subsidiary Tata Power Renewable Energy (TPREL) has signed share purchase agreement (SPA) with Welspun Energy (WEPL) to acquire its subsidiary Welspun Renewables Energy (WREPL). This represents the largest transaction in renewables space in India. WREPL has one of the largest operating solar portfolios in India spread across ten states. It has about 1,140 MW of renewable power projects comprising of about 990 MW solar power projects and about 150 MW of wind power projects. Out of 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.
On 19 August 2016, Cennergi, Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, announced the commencement of commercial operations for its 95 MW Tsitsikamma Community Wind Farm (TCWF) project. Cennergi was selected as the preferred bidder for two wind projects under the second window of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) by the South African government. With the commissioning of the Tsitsikamma project, Cennergi's operational portfolio has increased to 229MW.
In 2017, Tata Power's 100 percent subsidiary Tata Power Renewable Energy commissioned 100 MW wind farm in Andhra Pradesh. During the year under review, Tata Power executed Distribution Franchisee Agreement (DFA) for electricity distribution in Ajmer City.
On 2 January 2018, Tata Power Renewable Energy Ltd. (TPREL), Tata Power's wholly-owned subsidiary, announced the commissioning of its 50 MW DCR solar plant at Pavagada Solar Park in Karnataka. The project was won by the company on 4 April 2016 under the National Solar Mission Phase-II Batch-II Tranche-I State Specific Bundling Scheme.
On 8 January 2018, Tata Power announced that it has set up additional electric vehicle charging stations at strategic locations thereby making Mumbai truly ready to usher in the Electric Vehicle wave. The latest Electric Vehicle charging stations by Tata Power have been set up at Palladium Mall Lower Parel, and Phoenix Marketcity, Kurla; and two more coming up at BKC and western express highway at Borivali.
On 26 March 2018, Tata Power announced that the company's Board has approved the sale of its shares in Tata Communications and Panatone Finvest to Tata Sons and its affiliates. Panatone Finvest holds 30.1% of Tata Communications. The move is a part of the company's plan to monetize its non-core assets and improve the balance sheet to set the stage for next phase of growth. The estimated realisation will be about Rs 2150 crore and is subject to shareholders' approval.
On 29 March 2018, Tata Power announced that its Board has approved the sale of its Defense business to Tata Advance Systems Limited, a wholly owned subsidiary of Tata Sons at an enterprise value of Rs 2230 crore (out of which Rs 1040 crore payable at the time of closing and Rs 1190 crore payable on achieving certain milestones), subject to Government & other approvals. This is as part of the company's plan to monetize its non-core assets and improve the balance sheet.
On 11 July 2018, Tata Power announced that its wholly owned subsidiary Tata Power Renewable Energy Limited (TPREL) has received a Letter of Award from Karnataka Renewable Energy Development Limited (KREDL) to develop 250 MW (50 MW x 5 Nos) of solar projects located in state's Tumkur district at Karnataka.
On 27 September 2018, Tata Power and Hindustan Petroleum Corporation Limited (HPCL), a Navratna Oil & Gas Public Sector Undertaking, announced the signing of a Memorandum of Understanding (MoU) for setting up commercial-scale charging stations for Electric Vehicles at the HPCL retail outlets and other locations across India. Tata Power and HPCL, through this new landmark MoU, have agreed to collaborate in planning, development and operation of charging infrastructure for electric vehicles (e-cars, e-rickshaws, e-bikes, e-buses, etc.), at suitable locations across India. Both entities also intend to additionally explore areas of opportunities & collaboration in related fields like Renewable Energy.
As on 31 March 2019, the Company had 50 subsidiaries (40 are wholly-owned subsidiaries), 38 Joint Ventures (JVs) and 6 Associates.
The company decided to sell Strategic Engineering Division(SED) to Tata Advanced Systems Limited, a wholly owned subsidiary of Tata Sons Private Limited at an enterprise value of Rs 2,230 crore.
As on 31 March 2019, the Tata Power group of companies had an operational generation capacity of 10,957 MW from various fuel sources - thermal (coal, gas and oil), hydroelectric, renewable energy (wind and solar PV) and waste heat recovery.
During the FY2020,TP Kirnali Limited was incorporated as wholly owned subsidiary of Tata Power Renewable Energy Ltd(TPREL) and TP Solapur Limited was incorporated as wholly owned subsidiary of TPREL.Also during the year, Gamma Land Holdings Limited, Beta Land Holdings Limited and Ginger Land Holdings Limited are three JVs which ceased to exist.
As on 31 March 2020, the Company had 54 subsidiaries (40 are wholly owned subsidiaries), 30 Joint Ventures (JVs) and 5 Associates.
As on 31st March 2020,the company has an installed capacity of 12,742 MW, out of which 3,883 MW is from 'Clean and Green sources' (Hydro, waste heat recovery, wind and solar) which constitute about 30% of the total portfolio.
Subsequent to approval accorded by the shareholders at the 101st Annual General Meeting of the Company on 30 July 2020, the Company issued and allotted 49,05,66,037 Equity Shares of the Company to its Promoter, Tata Sons Private Limited, at a price of Rs 53 (including a premium of Rs 52) per Equity Share, aggregating up to Rs 2,600 crore, for cash consideration, on a preferential basis.
During the FY2021, Company has filed the following schemes of merger with the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench,a. Scheme of Amalgamation of Af-Taab Investment Company Limited with the Company and Composite Scheme of Arrangement of Coastal Gujarat Power Limited and Tata Power Solar Systems Limited with the Company along with capital reorganisation after the merger.These schemes are pending approvals from Regulatory authorities including NCLT. However Given the changes in business environment, the Board of Directors in the meeting held on 1st July, 2021, have approved modification in the existing Composite Scheme. As per the proposed modification, the proposed merger of TPSSL with the Company and consequential changes or effect thereupon, shall be withdrawn from the Composite Scheme.
During the FY2021,the company has incorporated 5 new subsidiaries namely, TP Kirnali Solar Limited, TP Solapur Solar Limited,TP Saurya Limited, TP Akkalkot Renewable Limited and TP Roofurja Renewable Limited.
As on 31 March 2021, the Company had 59 subsidiaries (44 are wholly owned subsidiaries), 33 JVs and 5 Associates.
As on 31 March 2021, the Company had an installed capacity of 12,808 MW out of which 3,948 MW is from 'Clean and Green sources' (Hydro, waste heat recovery, wind and solar) which constitutes about 31% of the total portfolio.
During the quarter ended 30 June, 2021 , the Company has acquired 51 % stake in TP Northern Odisha Distribution Limited ('TPNODL') for Rs 191 crore. TPNODL is the licensee to carry out the distribution and retail supply of electricity covering the circles of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar in the state of Odisha for a period of 25 years effective 1st April 2021.
During the quarter ended 30th September 2021, the Holding Company has sold its investment in Trust Energy Resources Pte. Limited (TERPL), a wholly owned subsidiary to Tata Power International Pte Limited, another wholly owned subsidiary for a consideration of Rs 2127 crore.
As on March 31, 2022, the Company has an installed capacity of 13,515 MW out of which 4,655 MW is from 'Clean and Green sources' (Hydro, waste heat recovery, wind and solar) which constitute about 34% of total portfolio.
During the year 2022, the Company has acquired NESCO Utility through TP Nothern Odisha Distribution Limited (TPNODL) in Odisha. It acquired NRSS XXXVI Transmission Limited through, Resurgent Power Ventures Pte. Limited. It has launched smart energy solutions through IoT based Home Automation solutions, smart energy management tools and various other home automation products to implement efficient and cost-effective solutions to manage electricity usage. It increased 684 MW Solar PV assets in operating portfolio for supply of power to Discoms and captive consumers and around 23 MW of rooftop projects. Its subsidiary, Tata Power Solar Systems Limited (TPSSL) has commissioned 1.5 GW of Utility scale projects.
The National Company Law Tribunal, Mumbai Bench, vide its Orders dated March 31, 2022 and March 15, 2022 approved the Composite Scheme of Arrangement between CGPL and the Company and their respective shareholders and Scheme of Amalgamation of Af-Taab Investment Company Limited (Af-Taab) with the Company. The Appointed Date of both the Schemes was April 1, 2020.
During the year 2021-22, the Company acquired 51% stake in TP Northern Odisha Distribution Limited. TP Solapur Saurya Limited was incorporated as a subsidiary of the Company. Coastal Gujarat Power Limited and Af-Taab Investment Company Limited merged with the Company. Tatanet Services Limited merged with its subsidiary, Tatanet Services Limited. TCL Ceramics Limited and Koromkheti Georgia LLC ceased to be subsidiaries of the Company.
During year 2023, the Company through Resurgent Power Ventures Pte. Limited acquired NRSS XXXVI Transmission Limited and South East U.P. Power Transmission Company Limited. It commissioned third unit of 67.5 MW Co-generation Plant at Kalinganagar, Odisha in 2023. It commissioned 196 microgrids with an installed capacity of 5.88 MW.
Tata Power Company Ltd
Chairman Speech
Empowering for a Green Future
Dear Stakeholders,
It gives me immense pleasure to write to you after a record year of growth across our
businesses, which speaks volumes about our solid financial health and operational
excellence. As India takes confident strides to become world's third largest economy in
the next few years and a developed nation by 2047, it is imperative that decarbonisation
and sustainable growth remains as one of the key enablers of this journey for a green
future.
We at Tata Power aspire to play a pivotal role in addressing the growing energy needs
of the country and securing its energy stability by not just being a reliable partner, but
also by providing innovative, low-carbon and sustainable energy solutions. This is
reflected in our strategic roadmap to phase-out all coal-based generation and become
carbon net zero before 2045. We have adopted a three-pronged strategy comprising
technology, business model and people, in collaboration with our customers and partners.
Energy security in a volatile world
Before reviewing Tata Power's performance during the financial year gone by, it's
important to set the context. As the global economy was rebounding from the pandemic-
induced distress, the outbreak of the Russia-Ukraine conflict in February 2022 put a
spanner on it, making energy security as one of the foremost concerns for policymakers and
industry leaders worldwide. The US and its allies imposed economic sanctions on Russia and
as a result, Europe stared at an unprecedented energy crisis, given its dependence on
Russian oil and gas. The world stood defragmented, with no near-term solutions in sight
amid stagnation fears and historically high inflation levels.
Although a milder winter in Europe and easing energy and commodity price inflation
helped thwart an impending crisis, the external environment remained extremely volatile.
This situation strengthened the case further to accelerate investments in clean energy.
Despite the persistent geopolitical challenges, climate commitments globally continued to
gain traction, with renewables attracting investments of $ 495 billion (up 17% y-o-y), of
a total of $ 1.11 trillion flowing into low-carbon energy solutions in 2022. This year
also witnessed a significant focus towards building secure and resilient supply chains for
materials crucial to the energy transition as evident from the policy packages announced
under United States' Inflation Reduction Act and REPowerEU as also the Performance Linked
Incentive (PLI) in our country.
India leads the way
Back home, India demonstrated exceptional resilience amid the global headwinds to
remain the fastest growing major economy, albeit at a lower than previously forecasted
rate of 6.8% in FY23. Amidst the backdrop of the ongoing geo-political tensions and energy
crisis, India is emerging as a bright spot for the global investors particularly in the
sectors ripe for reforms such as energy, transport and infrastructure.
Power demand surged by ~10% to 1,512 billion units (BUs) during the same period. That
said, India too faced its share of challenges with stressed power supply during the peak
demand period, owing to shortage of coal supplies and non-availability of rakes, among
others. However, the shortage didn't snowball into a full-blow crisis due to the
government's proactive and concerted measures.
Meanwhile, the government's target of achieving 500 GW of installed electricity
capacity from non-fossil sources by 2030 remains on track. Renewables accounted for more
than 90% of capacity additions in FY23 and there has been constant push from
policymakers to facilitate clean and green energy transition through progressive and
aggressive policy changes and initiatives, production linked incentive schemes for
promoting domestic manufacturing etc. Further, India's drive towards adopting sustainable
mobility solutions reached an important milestone, with Electric Vehicles (EV) sales
crossing the one-million- unit mark during FY23. EVs accounted for 4.7% (up from 1.7% in
FY22) of overall auto sales, driven by supportive government policies and rapid expansion
in charging infrastructure.
Building awareness, scaling growth and delivering strong financial performance
Aligned with the needs of the country as also our sustained efforts towards the
promotion of clean and green energy, Tata Power partnered with News18 Network to roll out
'SustainableIsAttainable' campaign during India's 75 years of Independence celebration.
The campaign aimed at triggering a new wave of sustainability awareness and adoption in
the country as also to develop deeper conversations around sustainability. It demonstrated
various green products and solutions, highlighting their role in making sustainable
lifestyle 'attainable' for millions of Indians and Tata Power's contribution in enabling
these small yet significant changes for them.
At Tata Power, clean and green energy currently accounts for 37% in our generation mix,
which we aim to increase to 60% over the next five years. In FY23, we earmarked a capex of
over Rs. 7,000 crore in FY23 across generation, transmission and distribution with major
allocation towards augmenting renewable capacity. For FY24, we are looking at a capex of
over Rs. 12,000 crore, to be funded primarily from internal accruals.
We have expanded our renewables business significantly across EPC, utility-scale, group
captive and rooftop, solidifying our leadership further. Currently, we have an order book
in excess of Rs.17,000 crore in the EPC business. Our solar rooftop and group captive
business delivered multi-fold growth, having a combined order book in excess of Rs.1,900
crore.
We believe that the Rs.4,000 crore capital infusion into our renewables business by the
external investors - BlackRock and Mubadala will fuel the next level of growth. Our
greenfield 4 GW manufacturing facility for cells and modules is on track and will get
operational in FY24. Our leadership in the EV charging space was further strengthened with
a network of over 3,700 public and captive EV charging points and over 38,500 home
chargers across 351 cities and towns. We also showcased a wide range of next-generation
charging solutions - EZ Charge - at the Auto Expo 2023.
Our existing businesses of generation, transmission and distribution have performed
exceptionally well. The four Odisha Discoms, acquired over last 2-3 years, exhibited
remarkable performance with better reliability and customer services along with improved
profits and reduced AT&C losses. Moreover, all our Discoms in Mumbai, Delhi and Odisha
were awarded high performance ratings in the 11th Annual Integrated Ratings of
Power Distribution Utilities.
For FY23, we delivered a strong set of numbers, with revenue growing at 32% y-o-y to
Rs.56,033 crore, up from Rs.42,576 crore in FY22. EBITDA and PAT growing at 23% and 77%
respectively to an all-time high of Rs.10,068 crore and Rs.3,810 crore. We continued to
strengthen our balance sheet. Leveraging our robust operating cash flows, we brought down
our net debt to underlying EBITDA to 2.66 from 3.92 and net debt to equity to 1.03 from
1.53.
Partnering for tech adoption
Being mindful of the future energy landscape, we are continuously exploring the
prospects in the emerging clean energy and digital technologies. We are collaborating with
the technology partners and research academia to develop innovative energy solutions
meeting the evolving needs of the consumers and providing them a seamless digital
experience. We joined hands with partners to promote clean and sustainable energy
solutions in the facility management space. Similarly, we have developed partnership for
blockchain-based digital trade finance network thereby making Tata Power the first power
utility in India to implement end-to-end digital Letter of Credit settlement process.
Further, we are making India's power distribution network future ready by accelerating
digitalisation and automation, including implementing hybrid meter technology. This, in
turn, is enhancing grid intelligence and making it resilient and sustainable.
Growth-ready workforce, empowered communities
We recognise the critical role our people play in achieving our strategic objectives.
We are thus building and nurturing a diverse, growth-ready workforce by putting a high
emphasis on learning and development. We have also increased focus on overall health and
safety of our people and partners. ESG screening is carried out for business associates
(suppliers) before engaging with them.
We continue to make a meaningful difference to the communities around our area of
operations. Our focused CSR interventions touched over 37 lakh lives during FY23. Tata
Power and Tata Elxsi joined hands with the Government of India to develop a digital
platform under PayAutention - India's first bridgital autism support network.
Raising the bar on sustainability
At Tata Power, we have established a robust sustainability governance framework. Our
latest materiality assessment exercise conducted during FY23 will be leveraged to further
shape our sustainability goals, aligned with the Tata Group's vision for a greener,
cleaner, more sustainable and equitable future for the planet, Project Aalingana.
Our strong performance on the ESG front was reflected in our rating upgrades: Received
a BBB ESG rating from MSCI while our Sustainalytics ESG Risk Rating improved from 41.2 in
2022 to 40.9 in 2023. We are targeting for inclusion in the S&P Global Emerging Market
List by 2027. We remain on track to our decarbonisation roadmap to achieve carbon net zero
before 2045, as we raise our green and clean sources-based capacity to 100%. Further, we
target to achieve 100% water neutrality, 100% zero waste to landfill and no net impact on
biodiversity before 2030.
At Tata Power, we continue to rediscover ourselves in a volatile world of rapid
changes. Our value system and founder's vision drive us to explore new challenges and
opportunities for growth in a responsible and sustainable manner as true business leaders.
As we continue on this path, let me take this opportunity to thank every stakeholder
and look forward to your continued faith and confidence in us.
Yours sincerely,
DR. PRAVEER SINHA
CEO & MD, The Tata Power Company Limited.
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Tata Power Company Ltd
Company History
Tata Power Company Limited is India's largest integrated private power company, with a significant international presence. The Company was amongst the pioneers in generation of electricity in India more than a century ago. The Company has an installed generation capacity of 6,075 MW in India and a presence in all the segments of the power sector viz. Generation (thermal and hydro), Transmission and Distribution.
The Company is present across the entire value chain of power business viz. Generation, Transmission, Distribution, Power Trading, Power Services, Coal Mines and Logistics, Solar PV manufacturing and associated Engineering, Procurement and Construction services (EPC), Consumer facing businesses such as solar rooftop, solar pumps, EV charging, home automation and microgrid.
The Company has presence in all the segments of power sector, viz. Fuel & Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely 'Tata Power Delhi Distribution Limited' with Delhi Government for distribution in North Delhi, Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and Maithon Power Ltd.' with Damodar Valley Corporation for a 1,725 MW Mega Power Project at Jharkhand.
Tata Power is one of the largest renewable energy players in India and has developed the country's first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. Tata Power has signed a Distribution Franchisee Agreement (DFA) with Ajmer Vidyut Vitran Nigam Limited (AVVNL) and formed a Special Purpose Vehicle (SPV) 'TP Ajmer Distribution Limited' (TPADL), to cater to the power requirements of customers in Ajmer.
Tata Power's international presence includes strategic investments in Indonesia through 30% stake in the leading coal company PT Kaltim Prima Coal (KPC) in Singapore through Trust Energy Resources to securitise coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called Cennergi' to develop projects in South Africa, Botswana and Namibia; in Australia through investments in clean coal technologies and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.
Tata Power Company Limited was incorporated in September 18, 1919. The Company commissioned its first hydro electric power generating station commissioned at Khopoli in the year 1915 with an installed capacity of 40 MW, which was subsequently upgraded to 72 MW. In the year 1922, they commissioned another hydro power station at Bhivpuri with an installed capacity of 40 MW, subsequently upgraded to 72 MW. In the year 1927, they set up Third Hydro power station of 90 MW capacity at Bhira, which was subsequently upgraded to 150 MW.
In the year 1956, the company set commissioned a major thermal power station of 62.5 MW capacity at Trombay, to meet the increasing demand of electricity. Also, they set commissioned two more thermal units of similar capacity i.e. 62.5 MW in the years 1957 and 1960 respectively. In the year 1965, they set up Fourth thermal unit of 150 MW capacity at Trombay.
In the year 1984, the company commissioned India's first 500 MW generating unit with multi-fuel burning capability at Trombay. In the year 1990, they set up Second 500 MW thermal unit at Trombay. In the year 1994, the company commissioned a gas-based 180 MW capacity combined cycle plant to provide quick-start capacity to Trombay Thermal Station and to ensure reliable and uninterrupted supply for essential services in Mumbai.
In the year 1996, the company commissioned the 150 MW Pumped Storage Unit at Bhira. Also, they set up 67.5 MW Thermal Power Plant at Jojobera (Jharkhand). In the year 2000, The Tata Hydro-Electric Co. Ltd., The Andhra Valley Power Supply Co. Ltd., and the Tata Power Co. Ltd., are amalgamated to become one entity- The Tata Power Company Limited. Also, they commissioned a unit of 120 MW at Jojobera.
In the year 2001, the company set up 81.3 MW diesel generator based plant at Belgaum, Karnataka. In the year 2003, the company entered into a joint venture with PowerGrid Corporation of India Ltd., to develop a 1200 Km long transmission line to bring electricity from Bhutan to Delhi. In the year 2004, the company incorporated a wholly owned subsidiary company, known as Tata Power Trading Co. Ltd. for the power trading business. In the year 2005, the company commissioned the unit 4 of 120 MW capacity at Jojobera.
In the year 2006-07, the company completed the acquisition of 30% equity in Indonesian Coal Mines, PT Kaltim Prima Coal (KPC), and PT Arutmin Indonesia, as well as trading companies from PT Bumi Resources. In the year 2008, the unit 1 of 2 x 45 MW Phase of Haldia Project is synchronised with the grid. Also, the company commissioned the expansion project of 250 MW (Unit # 8) at Trombay.
During the year 2009-10, the company successfully completed the overhaul of Unit 5 during which the Unit underwent major renovation and modernization. The company commissioned Unit 3 of 30 MW, resulting in increase in the installed capacity of the plant to 120 MW. These Units use hot coke oven gas from Hooghly Metcoke and Power Company Limited to produce steam for power generation. Also, the company commissioned an additional 42 MW of wind power capacity, taking the total capacity to 201 MW.
During the year 2010-11, the company commissioned an additional 6 MW of wind power capacity in Maharashtra, taking the total installed wind power capacity in Mumbai Operations to 106 MW. Also, the company acquired a 21 MW wind farm, taking the total installed capacity outside Mumbai operations to 122 MW.
In 2012, Tata Power commissioned a 25 MW solar plant at Mithapur in Gujarat. During the year under review, Tata Power commissioned 1050 MW Maithon power project. During the year under review, Tata Power acquired 26% stake in large mines at PT Baramulti Suksessarana Tbk (BSSR), Indonesia. In 2013, Tata Power implemented the first 4000 MW Ultra Mega Power Project of India at Mundra, Gujarat based on super critical technology.
In 2014, Tata Power exited from Indonesian coal mine PT Arutmin Indonesia. During the year under review, Tata Power acquired a 39.2 MW wind farm near Dwarka, Jamnagar in Gujarat. During the year under review, Tata Power commissioned 28.8 MW solar power project at Palaswadi in Maharashtra. During the year under review, the company completed the commissioning of 32 MW Wind farm project in Maharashtra. In 2015, Tata Power's Joint-Venture Maithon Power Limited (MPL) commenced flow of energy to Kerala on a Long Term Agreement basis.
In 2016, Tata Power's Joint-Venture commissioned 120 MW Itezhi Tezhi hydro power project in Zambia. During the year under review, Tata Power partnered with Toshiba and Cargill to design and develop India's first green, safe and compact natural ester-based pad mount substation.
On 12 June 2016, Tata Power Company (Tata Power) announced that its 100 percent subsidiary Tata Power Renewable Energy (TPREL) has signed share purchase agreement (SPA) with Welspun Energy (WEPL) to acquire its subsidiary Welspun Renewables Energy (WREPL). This represents the largest transaction in renewables space in India. WREPL has one of the largest operating solar portfolios in India spread across ten states. It has about 1,140 MW of renewable power projects comprising of about 990 MW solar power projects and about 150 MW of wind power projects. Out of 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.
On 19 August 2016, Cennergi, Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, announced the commencement of commercial operations for its 95 MW Tsitsikamma Community Wind Farm (TCWF) project. Cennergi was selected as the preferred bidder for two wind projects under the second window of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) by the South African government. With the commissioning of the Tsitsikamma project, Cennergi's operational portfolio has increased to 229MW.
In 2017, Tata Power's 100 percent subsidiary Tata Power Renewable Energy commissioned 100 MW wind farm in Andhra Pradesh. During the year under review, Tata Power executed Distribution Franchisee Agreement (DFA) for electricity distribution in Ajmer City.
On 2 January 2018, Tata Power Renewable Energy Ltd. (TPREL), Tata Power's wholly-owned subsidiary, announced the commissioning of its 50 MW DCR solar plant at Pavagada Solar Park in Karnataka. The project was won by the company on 4 April 2016 under the National Solar Mission Phase-II Batch-II Tranche-I State Specific Bundling Scheme.
On 8 January 2018, Tata Power announced that it has set up additional electric vehicle charging stations at strategic locations thereby making Mumbai truly ready to usher in the Electric Vehicle wave. The latest Electric Vehicle charging stations by Tata Power have been set up at Palladium Mall Lower Parel, and Phoenix Marketcity, Kurla; and two more coming up at BKC and western express highway at Borivali.
On 26 March 2018, Tata Power announced that the company's Board has approved the sale of its shares in Tata Communications and Panatone Finvest to Tata Sons and its affiliates. Panatone Finvest holds 30.1% of Tata Communications. The move is a part of the company's plan to monetize its non-core assets and improve the balance sheet to set the stage for next phase of growth. The estimated realisation will be about Rs 2150 crore and is subject to shareholders' approval.
On 29 March 2018, Tata Power announced that its Board has approved the sale of its Defense business to Tata Advance Systems Limited, a wholly owned subsidiary of Tata Sons at an enterprise value of Rs 2230 crore (out of which Rs 1040 crore payable at the time of closing and Rs 1190 crore payable on achieving certain milestones), subject to Government & other approvals. This is as part of the company's plan to monetize its non-core assets and improve the balance sheet.
On 11 July 2018, Tata Power announced that its wholly owned subsidiary Tata Power Renewable Energy Limited (TPREL) has received a Letter of Award from Karnataka Renewable Energy Development Limited (KREDL) to develop 250 MW (50 MW x 5 Nos) of solar projects located in state's Tumkur district at Karnataka.
On 27 September 2018, Tata Power and Hindustan Petroleum Corporation Limited (HPCL), a Navratna Oil & Gas Public Sector Undertaking, announced the signing of a Memorandum of Understanding (MoU) for setting up commercial-scale charging stations for Electric Vehicles at the HPCL retail outlets and other locations across India. Tata Power and HPCL, through this new landmark MoU, have agreed to collaborate in planning, development and operation of charging infrastructure for electric vehicles (e-cars, e-rickshaws, e-bikes, e-buses, etc.), at suitable locations across India. Both entities also intend to additionally explore areas of opportunities & collaboration in related fields like Renewable Energy.
As on 31 March 2019, the Company had 50 subsidiaries (40 are wholly-owned subsidiaries), 38 Joint Ventures (JVs) and 6 Associates.
The company decided to sell Strategic Engineering Division(SED) to Tata Advanced Systems Limited, a wholly owned subsidiary of Tata Sons Private Limited at an enterprise value of Rs 2,230 crore.
As on 31 March 2019, the Tata Power group of companies had an operational generation capacity of 10,957 MW from various fuel sources - thermal (coal, gas and oil), hydroelectric, renewable energy (wind and solar PV) and waste heat recovery.
During the FY2020,TP Kirnali Limited was incorporated as wholly owned subsidiary of Tata Power Renewable Energy Ltd(TPREL) and TP Solapur Limited was incorporated as wholly owned subsidiary of TPREL.Also during the year, Gamma Land Holdings Limited, Beta Land Holdings Limited and Ginger Land Holdings Limited are three JVs which ceased to exist.
As on 31 March 2020, the Company had 54 subsidiaries (40 are wholly owned subsidiaries), 30 Joint Ventures (JVs) and 5 Associates.
As on 31st March 2020,the company has an installed capacity of 12,742 MW, out of which 3,883 MW is from 'Clean and Green sources' (Hydro, waste heat recovery, wind and solar) which constitute about 30% of the total portfolio.
Subsequent to approval accorded by the shareholders at the 101st Annual General Meeting of the Company on 30 July 2020, the Company issued and allotted 49,05,66,037 Equity Shares of the Company to its Promoter, Tata Sons Private Limited, at a price of Rs 53 (including a premium of Rs 52) per Equity Share, aggregating up to Rs 2,600 crore, for cash consideration, on a preferential basis.
During the FY2021, Company has filed the following schemes of merger with the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench,a. Scheme of Amalgamation of Af-Taab Investment Company Limited with the Company and Composite Scheme of Arrangement of Coastal Gujarat Power Limited and Tata Power Solar Systems Limited with the Company along with capital reorganisation after the merger.These schemes are pending approvals from Regulatory authorities including NCLT. However Given the changes in business environment, the Board of Directors in the meeting held on 1st July, 2021, have approved modification in the existing Composite Scheme. As per the proposed modification, the proposed merger of TPSSL with the Company and consequential changes or effect thereupon, shall be withdrawn from the Composite Scheme.
During the FY2021,the company has incorporated 5 new subsidiaries namely, TP Kirnali Solar Limited, TP Solapur Solar Limited,TP Saurya Limited, TP Akkalkot Renewable Limited and TP Roofurja Renewable Limited.
As on 31 March 2021, the Company had 59 subsidiaries (44 are wholly owned subsidiaries), 33 JVs and 5 Associates.
As on 31 March 2021, the Company had an installed capacity of 12,808 MW out of which 3,948 MW is from 'Clean and Green sources' (Hydro, waste heat recovery, wind and solar) which constitutes about 31% of the total portfolio.
During the quarter ended 30 June, 2021 , the Company has acquired 51 % stake in TP Northern Odisha Distribution Limited ('TPNODL') for Rs 191 crore. TPNODL is the licensee to carry out the distribution and retail supply of electricity covering the circles of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar in the state of Odisha for a period of 25 years effective 1st April 2021.
During the quarter ended 30th September 2021, the Holding Company has sold its investment in Trust Energy Resources Pte. Limited (TERPL), a wholly owned subsidiary to Tata Power International Pte Limited, another wholly owned subsidiary for a consideration of Rs 2127 crore.
As on March 31, 2022, the Company has an installed capacity of 13,515 MW out of which 4,655 MW is from 'Clean and Green sources' (Hydro, waste heat recovery, wind and solar) which constitute about 34% of total portfolio.
During the year 2022, the Company has acquired NESCO Utility through TP Nothern Odisha Distribution Limited (TPNODL) in Odisha. It acquired NRSS XXXVI Transmission Limited through, Resurgent Power Ventures Pte. Limited. It has launched smart energy solutions through IoT based Home Automation solutions, smart energy management tools and various other home automation products to implement efficient and cost-effective solutions to manage electricity usage. It increased 684 MW Solar PV assets in operating portfolio for supply of power to Discoms and captive consumers and around 23 MW of rooftop projects. Its subsidiary, Tata Power Solar Systems Limited (TPSSL) has commissioned 1.5 GW of Utility scale projects.
The National Company Law Tribunal, Mumbai Bench, vide its Orders dated March 31, 2022 and March 15, 2022 approved the Composite Scheme of Arrangement between CGPL and the Company and their respective shareholders and Scheme of Amalgamation of Af-Taab Investment Company Limited (Af-Taab) with the Company. The Appointed Date of both the Schemes was April 1, 2020.
During the year 2021-22, the Company acquired 51% stake in TP Northern Odisha Distribution Limited. TP Solapur Saurya Limited was incorporated as a subsidiary of the Company. Coastal Gujarat Power Limited and Af-Taab Investment Company Limited merged with the Company. Tatanet Services Limited merged with its subsidiary, Tatanet Services Limited. TCL Ceramics Limited and Koromkheti Georgia LLC ceased to be subsidiaries of the Company.
During year 2023, the Company through Resurgent Power Ventures Pte. Limited acquired NRSS XXXVI Transmission Limited and South East U.P. Power Transmission Company Limited. It commissioned third unit of 67.5 MW Co-generation Plant at Kalinganagar, Odisha in 2023. It commissioned 196 microgrids with an installed capacity of 5.88 MW.
Tata Power Company Ltd
Directors Reports
Tata Power Company Ltd
Company Background
| Incorporation Year | 1919 |
| Registered Office | Bombay House,24 Homi Mody Street
Mumbai,Maharashtra-400001 |
| Telephone | 91-022-66658282,Managing Director |
| Fax | 91-022-66658801 |
N ChandrasekaranPRAVEER SINHA| Company Secretary | |
| Auditor | S R B C & Co LLP |
| Face Value | 1 |
| Market Lot | 1 |
| Listing | BSE,London,Luxembourg,MSEI ,NSE,Singapore, |
| Registrar | TSR Consultants P Ltd
C-101 1st Floor,247 Park Vikhroli W,Lal Bahadur Marg,Mumbai - 400 083 |
Tata Power Company Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| N Chandrasekaran | Chairman(Non Exe)&Dir(Non-Ind) | 2023 |
| Anjali Bansal | Independent Non Exe. Director | 2023 |
| Vibha Padalkar | Independent Non Exe. Director | 2023 |
| Sanjay Bhandarkar | Independent Non Exe. Director | 2023 |
| HEMANT BHARGAVA | Non Executive Director | 2023 |
| Saurabh Agrawal | Non-Exec & Non-Independent Dir | 2023 |
| ASHOK SINHA | Independent Non Exe. Director | 2023 |
| Rajiv Mehrishi | Independent Non Exe. Director | 2023 |
| PRAVEER SINHA | Managing Director & CEO | 2023 |
Tata Power Company Ltd
Listing Information
| Listing Information |
|---|
| BSE_500 |
| BSE_100 |
| BSE_200 |
| BSEDOLLEX |
| NIFTYJR |
| CNX500 |
| CNXENERGY |
| CNX100 |
| CNXINFRAST |
| BSEPOWER |
| CNXSERVICE |
| CNXCONSUMP |
| CNX200 |
| CNXCOMMODI |
| BSECARBONE |
| BSEINFRA |
| NFT100EQWT |
| BSEALLCAP |
| BSELARGECA |
| BSEUTILITI |
| SENSNEXT50 |
| LMI250 |
| BSEDSI |
| NFTYTATA25 |
| BSE100LTMC |
| NFTYLM250 |
| NFTY100ESG |
| NF500M5025 |
| NFTYTOTMKT |
| NMIF503020 |
Tata Power Company Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Sale of Renewable Energy Certi | NA | 0 | 0 | 0 | 15928.97 |
| Power Supply Revenue | MU | 0 | 0 | 0 | 1170.17 |
| Project Management Services | NA | 0 | 0 | 0 | 262.05 |
| Income of Services Rendered | NA | 0 | 0 | 0 | 158.02 |
| Income from Finance Lease | NA | 0 | 0 | 0 | 76.26 |
| Other Operating Income | NA | 0 | 0 | 0 | 59.74 |
| Rental of L&B, Plant & Equipmt | NA | 0 | 0 | 0 | 27.55 |
| Income from Storage & Termina. | NA | 0 | 0 | 0 | 18.49 |
| Sale of Fly Ash | NA | 0 | 0 | 0 | 18.38 |
| Amortisation of Sevice LineCon | NA | 0 | 0 | 0 | 8.15 |
| Compensation Received | NA | 0 | 0 | 0 | 0 |
| Services Rendered | NA | 0 | 0 | 0 | 0 |
| Misc Revenue & Sundry Credits | NA | 0 | 0 | 0 | 0 |
| Switched Mode Power Supplies | No | 0 | 0 | 0 | 0 |
| Systems for Vehicle Mount Appl | No | 0 | 0 | 0 | 0 |
| Towers Materials | MT | 0 | 0 | 0 | 0 |
| Transfer of Capital/Ser. Contr | NA | 0 | 0 | 0 | 0 |
| Unbilled Revenue | NA | 0 | 0 | 0 | 0 |
| Wheeling Charges recoverable | NA | 0 | 0 | 0 | 0 |
| Cash Discount | NA | 0 | 0 | 0 | 0 |
| Rental Income | NA | 0 | 0 | 0 | 0 |
| Hydro Power | MW | 0 | 0 | 0 | 0 |
| Hydroelectric Power Generation | MU | 0 | 0 | 0 | 0 |
| Power Generation | MU | 0 | 0 | 0 | 0 |
| Spares | NA | 0 | 0 | 0 | 0 |
| Sale of Carbon Credits | NA | 0 | 0 | 0 | 0 |
| Others | NA | 0 | 0 | 0 | 0 |
| Power Line Monitors | No | 0 | 0 | 0 | 0 |
| Renewables-Solar Photovaltic | MW | 0 | 0 | 0 | 0 |
| Thermal - Waste heat recovery | MW | 0 | 0 | 0 | 0 |
| Thermal Power | MU | 0 | 0 | 0 | 0 |
| Thermal Power | MW | 0 | 0 | 0 | 0 |
| Thermal-Production Gases | MW | 0 | 0 | 0 | 0 |
| Steel Structures | MT | 0 | 0 | 0 | 0 |
| Bolts/Nuts | MT | 0 | 0 | 0 | 0 |
| Wind Power Generation | MU | 0 | 0 | 0 | 0 |
| Wind Power Generation | MW | 0 | 0 | 0 | 0 |
| Mini/Micro Computer Sys-Rugged | No | 0 | 0 | 0 | 0 |
| Transmission EPC Business | NA | 0 | 0 | 0 | 0 |
| Display Test Sets | No | 0 | 0 | 0 | 0 |
| Electrical Equipments | Set | 0 | 0 | 0 | 0 |
| Electronic Products | No | 0 | 0 | 0 | 0 |
| Simulators | No | 0 | 0 | 0 | 0 |
| Sonobuoys | No | 0 | 0 | 0 | 0 |
| Sub Systems for Airborne Appl. | No | 0 | 0 | 0 | 0 |
| Sub Systems for Locomotive | No | 0 | 0 | 0 | 0 |
| Modems | No | 0 | 0 | 0 | 0 |
| Software | NA | 0 | 0 | 0 | 0 |
| AMTI/Radar Data Processor | No | 0 | 0 | 0 | 0 |
| Radar Data Processor/AMTI | No | 0 | 0 | 0 | 0 |
| Global Position Sys. Receivers | No | 0 | 0 | 0 | 0 |
| Low Frequency Receivers | No | 0 | 0 | 0 | 0 |
| Tactical Display Consoles | No | 0 | 0 | 0 | 0 |
| Cables | Km | 0 | 0 | 0 | 0 |
| Vehicles | No | 0 | 0 | 0 | 0 |
| Air Traffic Control Display | No | 0 | 0 | 0 | 0 |
| Video Mappers | No | 0 | 0 | 0 | 0 |
| Energy Meter | No | 0 | 0 | 0 | 0 |
| Servo Controller Systems | No | 0 | 0 | 0 | 0 |
| Voltage Stabilisers | No | 0 | 0 | 0 | 0 |