Tata Power Looks To Accelerate Execution On 3.7 GW Renewable Orders, Says CEO Praveer Sinha
The company is targeting the execution of 1.5 gigawatts in the next half of this financial year, he said.
Tata Power Co., with 3.7 gigawatts of renewable orders, will see a huge increase in order execution in the second half of the current financial year, according to Chief Executive Officer Praveer Sinha.
The company is targeting the execution of 1.5 gigawatts in the next half of this financial year. It announced its second-quarter results on Thursday.
"In the next one year, we will do nearly 2.5 GW of solar plants. We are sitting on a good opportunity and will execute orders in the given time frame," Sinha, who is also the managing director, told BQ Prime's Sajeet Manghat.
The company is looking to use the fall in module, cell, polysilicon and wafer prices to execute the projects and the work for the same has already begun, he said.
“Better renewable capacity is coming up, especially at the manufacturing plant with 4.3 GW; it will be the single largest solar cell module plant in the country, and I think our performance will further improve and our core operating and results will get more of our profitability.”
Sinha also expects coal prices to be range-bound and not increase for the next two months, which in turn will help the company complete its orders on time.
Tata Power had earlier planned for a capex of Rs 12,500 crore, and the company expects to “meet that and maybe cross that by year-end.”
The Mundra plant the most efficient and economical, Sinha said.
“Mundra Plant has been operating one unit down because of a problem with transformers. That is why you can’t see 90–95% ability, or it would have been in that range. It’s only four units operating, all operating at full capacity.”
The fifth unit will be running by March end, post-repair of the transformer, Sinha said.
The extension of Section 11 to June next year “ensures that the tariff is cost-reflected”. With the increasing demand, the operation of the plant will still be required, according to the top executive.