1. Tata Power’s Q1 renewable biz profit jumps 329 pct to Rs 142 crore

Tata Power’s Q1 renewable biz profit jumps 329 pct to Rs 142 crore

Tata Power today said its renewable portfolio recorded a 329 per cent jump in consolidated net profit at Rs 142.18 crore in the quarter to June 30, against the corresponding three months a year ago.

By: | New Delhi | Published: August 23, 2017 3:39 PM
Tata Power, Tata Power renewable business, Tata Power profit, Tata Power Renewable Energy, TPREL, Anil Sardana, Tata Power news Another 500 MW of capacity is under construction by TPREL (Reuters)

Tata Power today said its renewable portfolio recorded a 329 per cent jump in consolidated net profit at Rs 142.18 crore in the quarter to June 30, against the corresponding three months a year ago. The renewable business capacity of Tata Power crossed 2,000 MW and non-fossil fuel portfolio stood at 3,144 MW, a 92 per cent increase from a year ago, it said in a statement. Another 500 MW of capacity is under construction by Tata Power Renewable Energy Ltd (TPREL), Tata Power’s wholly-owned subsidiary. The operating renewable portfolio of TPREL has grown to 1,457.2 MW, comprising 530.2 MW wind and 927 MW solar, respectively, it said.

On its commitment to generate 30-40 per cent power by 2025 through clean energy sources, Tata Power MD and CEO Anil Sardana said, “In the last 5 years, we have become the largest renewable energy player and going forward, we will continue to invest in renewable energy projects, both organic and inorganic, as well as in cutting-edge technologies to maximise shareholder value.” Tata Power will continue to work towards ensuring that its renewable business remains the largest in the country, it added.

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