Adani Transmission’s MD & CEO said that he expects to see higher opportunities in the renewables space hereon
After occupying various top positions at different Tata Group companies for more than two decades, Sardana resigned from Tata Power this January as MD and CEO, citing "personal" reasons and his last working day at the Tatas April 30, 2018.
Adani Transmission today said it has appointed Anil Sardana as its Managing Director and Chief Executive Officer with effect from May 1, 2018. Prior to joining the Adani Group he was the MD & CEO of Tata Power, based out of Mumbai, the Adani Group firm said in a statement.
It also reported significant increase of 15.2 per cent in output, with its total power generation capacity at 10,577 MW from various fuel sources such as thermal, hydroelectric power, renewable energy (wind and solar PV) and waste heat recovery.
Tata Power Solar today said it has expanded the capacity of its cell and module manufacturing facility in Bengaluru.
Tata Power is keen to pare its debt and bring down the debt-equity ratio to 2 through sale of non-core assets, says CEO & MD Anil Sardana.
Anil Sardana, MD & CEO, Tata Power is of the view that the efforts that the government has undertaken to bring a positive structure into the economy by moving towards a policy based administration with an increased focus on digitisation.
Tata Power today said its total generation from renewable energy sources has reached 3133 MW this fiscal year.
Tata Power has received approval of shareholders to re-appoint Anil Sardana as CEO and Managing Director of the company.
According to the statement, Cennergi was picked as the preferred bidder for two wind projects under the Renewable Energy Independent Power Producer Procurement Programme of the South African government.
"Cennergi (Pty) Ltd, Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, achieved commercial operations for its 134 mw Amakhala Emoyeni wind farm project yesterday," Tata Power said in a BSE filing.
Tata Power's subsidiary Tata Power Renewable Energy Ltd (TPREL) will acquire WREPL through a share purchase agreement (SPA), it said in a statement.
Power tariff is likely to increase by 8-10 percent in the country after Coal India decided to hike the commodity's prices, Tata Power CEO and Managing Director Anil Sardana has said.
"Company's 100 percent subsidiary, Tata Power Renewable Energy Ltd (TPREL) has won two Solar grid connected photovoltaic projects of 50 mw capacity each in Pavagada Solar Park in the Tumkur district of Karnataka," the company said in a statement.
"The Tata Power mobile app is specially designed to be an exclusive platform to help consumers and other stakeholders to connect and directly engage with the company," Tata Power said in a BSE filing.
With this addition, Tata Power's total installed capacity now stands at 9,183 MW, besides 2 million customers it serves through retail power distribution, it said.
Tata Power has decided to increase the share of its renewable energy output to 30-40 percent by 2025, up from its earlier target of 20 percent, a top company official has said.
The company also reported increase in generation, with the total power generation capacity of Tata Power in India standing at 9,036 MW from various sources such as thermal, hydro, renewable energy (wind and solar PV) and waste heat recovery, the firm said in a statement.
"Showcasing its robustness and strong abilities, Tata Power has prioritised four key regions for international play - Africa, South East Asia, the Middle East, SAARC (India Region)," Tata Power said in a statement.
The assets include 376.5 MW of wind assets in Gujarat, Maharashtra and Tamil Nadu, 3 MW solar asset in Mulshi and 120 MW of waste heat recovery based power plants at Haldia, West Bengal.
ITPC, a 50-50 joint venture with the Zambian parastatal utility ZESCO Ltd (ZESCO), is a special purpose vehicle which has been set up to build and operate a 120 MW hydro power plant in Itezhi Tezhi district in Zambia.
With many investors ready to back them the company is hopeful of acquiring few distressed assets within the next six months, said Anil Sardana, MD of Tata Power.
With this commissioning, Tata Power's total generation capacity stands at 8623 MW.
Tata Power did not divulge any financial details pertaining to the project. IEPL owns a 540 MW thermal power plant near Nagpur in Maharashtra of which 270 MW was commissioned in May 2013.
The Supreme Court in August 2014 had stayed an order by the APTEL allowing Tata Power Co. Ltd and Adani Power Ltd to charge higher prices for electricity produced from their plants in Mundra, Gujarat.