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Tata Power

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Tata Power Company Limited
Company typePublic
IndustryElectric utility
Founded18 September 1919; 105 years ago (1919-09-18)
FounderDorabji Tata
HeadquartersBombay House, 24 Homi Mody Street, Mumbai, Maharashtra, India
Key people
Praveer Sinha [1]
(MD & CEO)
ProductsElectrical power & Natural gas
ServicesElectricity generation and distribution, natural gas exploration, production, transportation and distribution
RevenueIncrease ₹63,272.32 crore (US$7.6 billion)[2] (2024)
Increase ₹8,417.88 crore (US$1.0 billion) (2024)
Increase₹4,280.10 crore (US$510 million) (2024)
Total assetsIncrease₹139,553 crore (US$17 billion) (2024)
Total equityIncrease ₹38,333 crore (US$4.6 billion) (2024)
Number of employees
23,652 (2024) [3]
ParentTata Group
Subsidiaries
Websitewww.tatapower.com

Tata Power Company Limited is an Indian electric utility and electricity generation company based in Mumbai, India and is part of the Tata Group. With an installed electricity generation capacity of 14,707 MW out of which 5847 MW is from Non-Conventional(Green Energy) sources rest from thermal, making it India's largest integrated power company. In February 2017, Tata Power became the first Indian company to ship over 1 GW solar modules.[4]

A 2016 stamp dedicated to the 100th anniversary of Tata Power

History

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The firm started as the Tata Hydroelectric Power Supply Company in 1910,[5][6] which amalgamated with the Andhra Valley Power Supply Company in 1916.[7] It commissioned India's Second hydro-electric project in 1915 in Khopoli for 72 MW. Then second and third power plants were installed in Bhivpuri (75 MW) in 1919 and Bhira (300 MW) in 1922.[8][9][10]

Operations

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Tata Power has operations in India, Singapore, Indonesia, South Africa, Zambia, Georgia,Mauritius and Bhutan.[11] Tata Power Group has its operations based in 20 locations in India.[11]
The thermal power stations of the company are located at Trombay in Mumbai, Mundra in Gujarat, Jojobera and Maithon in Jharkhand, Kalinganagar in Odisha, Haldia in West Bengal and Belgaum in Karnataka.[12] The hydro stations are located in the Western Ghats of Maharashtra and the wind farms in Ahmednagar, Supa, Khanke, Brahmanwel, Gadag, Samana and Visapur.[12] The company installed India's first 500 MW unit at Trombay, the first 150 MW pumped storage unit at Bhira, and a flue gas desulphurization plant for pollution control at Trombay.[13] It has generation capacities in the States of Jharkhand and Karnataka, and a distribution company in Delhi, servicing over one million consumers spread over 510 square km in the North Delhi. The peak load in this area is about 1,150 MW.[14] Tata Power announced on 24 July 2012, commissioning of the second unit of 525 MW capacity of the Maithon mega thermal project in Dhanbad. The first unit of identical capacity was commissioned in September 2011.[15]

It also has a distribution company in Ajmer,Rajasthan.And only produces Green Energy in Rajasthan which includes 755 MW of solar energy(Tata Power Solar) and 185 MW of Wind Energy taking total green energy generation to 940 MW.[11]

Major power plants

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International operations

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The company has executed overseas projects in the Middle East, Africa and South East Asia including:[16][17][18]

  • Jebel Ali 'G' station (4×100 = 400 MW + desalination plant) in Dubai
  • Al-Khobar II (5×150 = 750 MW + desalination plant) in Saudi Arabia
  • Jeddah III (4×64 = 256 MW + desalination plant) in Saudi Arabia,
  • Shuwaikh (5×50 = 250 MW) in Kuwait
  • EHV substations in UAE and Algeria
  • Power plant operation and maintenance contracts in Iran and Saudi Arabia.
  • Tata Power has a Russian subsidiary, namely Far Eastern Natural Resources LLC, that has a license for a coal mine in Kamchatka Krai.[19]

Problems

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In cause of dramatically higher coal prices as assumed in the plannings and a fixed price arrangement the Mundra plant in 2012 made big losses.[20] After three successive years of losses as a result, cash flow was becoming an issue for the company. In January 2014 the company sold a 30 percent stake in Indonesian coal company PT Arutmin for $500 million. In July 2014 it signed an option to sell a 5 percent stake in Indonesian coal company Kaltim Prima Coal for $250 million.[21] As of March 2024, Tata Power's consolidated debt stood at Rs.49,480 crore.[22]

Future projects

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Tata Power has a 51:49 joint venture with PowerGrid Corporation of India for the 1,200 km (750 mi) Tata transmission project, India's first transmission project executed with public-private partnership financing.[23]

Tata Power has plans to expand generation capacity of 4,000 MW Mundra plant, the country's first operational ultra mega power project, to 5,600 MW.[citation needed]

The company also has a 74:26 joint venture with Damodar Valley Corporation for 1,050 MW coal-based thermal power plant at Maithon in Dhanbad district of Jharkhand, named as Maithon Power Limited. Both units were commissioned on 24 July 2012. It has another 74:26 joint venture with Tata Steel Limited for thermal power plants to meet the captive requirements of Tata Steel, under name Industrial Energy Limited.

Tata Power has announced its partnership with Sunengy an Australian firm to build India's first floating solar plant based on Liquid Solar Array[clarification needed] technology.[24][25][26]

In 2016, Tata Power made significant inroads into the renewable energy market in India by means of its acquisition of Welspun Renewables, for a record price of $1.3 billion, the largest acquisition in the Indian renewables sector.[27]

Tata Power bagged a 25-year licence for distribution and retail supply of electricity in Odisha's five circles, together constituting Central Electricity Supply Utility of Odisha (CESU) for about Rs 175 crore.[28][29]

On December 11, 2023, Tata Power and Indian Oil Corporation announced a partnership to establish over 500 electric vehicle (EV) charging points across India, aiming to enhance the country's EV infrastructure and facilitate intercity travel for EV users.[30]

On 17th September 2024, CEO Praveer Sinha informed that the company planned to invest up to $9 billion to more than quadruple its renewable energy capacity to more than 20 gigawatts (GW) over the next five to six years.[31][32]

Shareholding

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As on 25 December 2023, Tata Group held 32.46% shares in Tata Power. Around 210,000 individual shareholders hold approx. 16% of its shares. Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 12.90% shareholding.[33][34]

Shareholders Shareholding[33]
Promoters: Tata Group companies 32.46%
Foreign Institutional Investors 23.67%
Insurance Companies 19.45%
Individual shareholders 16.04%
GDRs 3.70%
Others 4.68%

The equity shares of Tata Power are listed on the Bombay Stock Exchange,[35] where it is a constituent of the BSE SENSEX index,[36] and the National Stock Exchange of India,[37] where it is a constituent of the NIFTY 50.[38]
Its Global Depository Receipts (GDRs) are listed on the London Stock Exchange[39] and the Luxembourg Stock Exchange.[40][41][42]

See also

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References

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  1. ^ "Tata Power Company Ltd. – Company Info – Management". Economic Times. Retrieved 1 September 2013.
  2. ^ "Tata Power Integrated Q4FY2024" (PDF).
  3. ^ "Tata Power AR 2023-24" (PDF).
  4. ^ Bureau, BS B2B (7 February 2017). "Tata Power Solar becomes first Indian firm to ship out 1 GW solar modules". Business Standard India. Retrieved 9 March 2017. {{cite news}}: |last1= has generic name (help)CS1 maint: numeric names: authors list (link)
  5. ^ Kale, Sunila (2014). Electrifying India: Regional Political Economies of Development. Stanford University Press. p. 72. ISBN 978-0-8047-9102-1.
  6. ^ Tyson, Kirk (1996). Competition in the 21st Century. CRC Press. p. 173. ISBN 978-1-57444-032-4.
  7. ^ "Tata Power Company Ltd". NDTV.com. Retrieved 1 September 2013.
  8. ^ "Tata Power eyes stronger overseas presence". Business Standard. 23 June 2013. Retrieved 1 September 2013.
  9. ^ "History: Our Legacy". Tata Power. Retrieved 1 September 2013.
  10. ^ "Tata Power, SN Power announce their partnership to set up hydro power projects in India & Nepal". Business Standard. 30 October 2009. Retrieved 1 September 2013.
  11. ^ a b c "Annual Report 2022-23" (PDF). Tata Power. Retrieved 1 September 2013.
  12. ^ a b "Power Projects". Tata Power. Retrieved 1 September 2013.
  13. ^ "Trombay plant's 500MW unit modernisation by '15: Tata Power". moneycontrol.com. 16 December 2012. Retrieved 1 September 2013.
  14. ^ "Profile – Tata Power Delhi Distribution". Tata Group. Archived from the original on 3 October 2013. Retrieved 1 September 2013.
  15. ^ "Tata Power's second unit of Maithon project on stream". 25 July 2012.
  16. ^ "Tata Power has mega core plans". Economic Times. 7 February 2008. Archived from the original on 22 February 2014. Retrieved 1 September 2013.
  17. ^ "Tired of delays, Tata Power turns to overseas for expansion". The Times of India. 29 July 2012. Archived from the original on 1 September 2013. Retrieved 1 September 2013.
  18. ^ "Sustainability Report 2008-09 – Tata Power" (PDF). Tata Power. Retrieved 1 September 2013.
  19. ^ "Tata Power arm wins coal mine in Russia". The Economic Times. 22 December 2017. Archived from the original on 4 August 2018. Tata Power today said its Russian subsidiary Far Eastern Natural Resources LLC has bagged the mining licence for a thermal coal mine in Kamchatka province in far east Russia.
  20. ^ Asthana, Shishir (20 January 2013) Analysis: Tata Power's UMPP woes | Business Standard News. Business-standard.com. Retrieved on 26 December 2018.
  21. ^ "CLoss making Tata Power to sell 5pc stake in Indonesian coal mine". India Gazette. Archived from the original on 14 July 2014. Retrieved 5 July 2014.
  22. ^ "Along with capex; Tata Power intensifies efforts on debt restructuring".
  23. ^ "Tata Power: A Power Story". bigwitenergy. 11 January 2022.
  24. ^ "Tata Power inks deal with Australian co for floating solar units". The Hindu. 22 March 2011. Retrieved 1 September 2013.
  25. ^ "Media releases – Sunengy, Australia, partners with Tata Power to build the first floating solar plant in India". Tata Group. 22 March 2011. Archived from the original on 28 July 2013. Retrieved 1 September 2013.
  26. ^ "Tata Power to build India's first floating solar plant". moneycontrol.com. 22 March 2011. Retrieved 1 September 2013.
  27. ^ tata power arm completes acquisition of welspun. The Hindu BusinessLine (14 September 2016). Retrieved on 2018-12-26.
  28. ^ Singh, Sarita C. (23 December 2019). "Tata Power bags 25-yearr [sic] Odisha discom licence for Rs 175 crore". The Economic Times. Retrieved 8 June 2020.
  29. ^ "Tata Power to own licence for distribution, retail supply of electricity in Odisha". www.businesstoday.in. 23 December 2019. Retrieved 8 June 2020.
  30. ^ Livemint (11 December 2023). "Tata Power ties up with Indian Oil to set up 500 EV charging points across India". mint. Retrieved 11 December 2023.
  31. ^ "Tata Power to invest up to $9 bn to expand renewable energy capacity".
  32. ^ "Tata Power to invest up to $9 billion to expand renewable energy capacity".
  33. ^ a b "Annual Report 2012-13" (PDF). Tata Power. Retrieved 1 September 2013.
  34. ^ "Shareholding Pattern as on 31st March 2013". Tata Power. Retrieved 1 September 2013.
  35. ^ "Tata Power Co. Ltd". BSEindia.com. Retrieved 1 September 2013.
  36. ^ "Scripwise Weightages in S&P BSE SENSEX". BSE India. Archived from the original on 1 December 2015. Retrieved 31 August 2013.
  37. ^ "Tata Power Company Limited". NSE India. Archived from the original on 21 October 2013. Retrieved 1 September 2013.
  38. ^ "Download List of CNX Nifty stocks (.csv)". NSE India. Archived from the original on 13 October 2013. Retrieved 31 August 2013.
  39. ^ "TPCL Tata Power Company Limited GDR (each representing 1 ordinary share)". London Stock Exchange. 27 July 2009. Retrieved 31 August 2013.
  40. ^ "TataPower GDS 09 ne". Luxembourg Stock Exchange. 28 July 2009. Archived from the original on 4 March 2014. Retrieved 1 September 2013.
  41. ^ "Tata Power raises $335 mn through GDRs". Times of India. 23 July 2009. Archived from the original on 5 March 2016. Retrieved 1 September 2013.
  42. ^ "Share Trading". Tata Power. Retrieved 1 September 2013.
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