Tata Power Renewable plans wind solar acquisitions – report
May 18, 2015 08:19 CEST
May 18 – The renewables arm of Tata Power (BOM:500400) is keen on acquiring both wind and solar power assets in India and is currently considering a variety of opportunities, its CEO said, as cited by the Hindu Business Line.
Tata Power Renewable Energy is targeting either completed plants or shovel-ready projects, Rahul Shah was quoted as saying. The company does not plan to expand its wind and solar portfolio only through acquisitions, but also organically, Shah has noted.
This fiscal year alone, the renewables company expects to grow its wind power production capacity by 150 MW to over 700 MW, the Indian business newspaper said.
Tata Power’s total installed capacity amounts to 8,750 MW, including 1,383 MW of clean and renewable energy plants.
India aims to have 175 GW of renewable power capacity by 2022, including 100 GW of solar and 60 GW of wind.
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