India’s largest private energy producer, Tata power, is going towards green technology. The company wants to generate 25 percent of all its power from clean energy sources, and is ready to invest in business partners already developing clean renewable energy.
In a recent interview, The Executive Director of Tata Power, S. Ramakrishnan told DNA Money that in the past, they had invested in expanding clean energy, and that in the future they will continue to keep their eyes on clean energy sources. Lately, Tata Power has invested in two Australian companies.
- USD 10 Million (5% stake in Exergen)
- USD 50 Million ( 10% stake in Geodynamics)
For instance, Exergen has built a highly cost-effective moisture removal process, used for high moisture brown coal. It will help to reduce carbon emission, from 1,500 kg of CO2 per MW to only 800 kgs of C02 for one MW.
Geodynamics operate in the field of developing new technology in the exploitation of geothermal energy.
In addition, Tata Power and an Australian firm Sunengy is collaborating in building a floating concentrated solar PV- Pilot Project.
According to S. Ramakrishnan, Tata Power is also operating with global utility companies such as Tokyo Electric, American Electric Power and Vattenfall. These companies are developing new clean-coal technology like gasification integrated cycle plants.
The current capacity of Tata Power is 5,297 MW, and 22 percent are generated from renewable-energy sources.
In the last nine month, the company had a revenue of 471 crore derived from clean energy sources. This was reported in the fiscal year 2012.
Tata Power is steadily seeking opportunities to grow. It commissioned a 25 MW power station recently in the Mithapur, Gujarat. In its five-year plan, the company is ready to establish 300 MW of solar power capacity, and solar rooftop is one of the options considered.
The wind installed capacity by Tata Power is 375 MW, and the plan is to expand by 150MW per annum, up until fiscal year 2015. The firm is also advancing towards capturing waste gases emitted while making steel.
The waste gas’s model has already been established in Jamshedpur & Halida. It will definitely help to lower the emission of carbon dioxide. Yet, the company is looking at additional means to reduce waste gases with Tata Steel.
In Himachal Pradesh, Tata Power is collaborating with S N Power, Norway to construct a 236 MW Dugar Hydro Power Project.