Tata Power sees no tangible domestic biz, eyes overseas avenues
With no "tangible business opportunities" in India, the country's largest power producer Tata Power is actively pursuing overseas avenues especially in Africa, Middle East, Turkey and South East Asia.
Tata Power Managing Director Anil Sardana emphasised that international opportunities seem to be moving faster than domestic activities.
His comments come at a time when the domestic power sector is grappling with multiple woes, including acute fuel scarcity and poor financial health of electricity distribution companies (discoms).
"At this stage, we are not looking for any tangible business opportunities in India. I don't see anything moving on the fuel side (or) project side," Sardana said.
Tata Power, with an installed generation capacity of 6,899 MW, is also developing the import coal-fired 4,000 MW Mundra plant in Gujarat -- India's first ultra mega power project.
Stressing that there is "nothing tangible" to talk about new projects in the country, Sardana wondered where are the requisite clearances.
"If you see from our perspective, we can do 2x660 MW at Maithon (Maharashtra) tomorrow, 2x800 MW at Mundra tomorrow, 2x660 MW related to Mandakini coal mines (in Orissa) tomorrow and 2x660 MW related to Tubed coal mines (in Jharkhand) tomorrow.
"We can do all these tomorrow and investment can start tomorrow. But where are the clearances, where is the fuel?," Sardana noted.
Amid rising imported coal prices making the Mundra project financially unviable, Tata Power has approached the Central Electricity Regulatory Commission (CERC) seeking higher tariff.
On the other hand, the Tata Power chief sounded bullish on international opportunities and noted that efforts overseas
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