Tata Power Renewables: Ashish Khanna, President, Tata Power Renewables said that the company aims to grow its business five times in five years. Tata Power Renewables is the green energy arm of Tata Power. Khanna said, the company is confident of having available growth capital to increase the capacity from 3 GW to 15 GW by 2025.
In an interview to Moneycontrol, Khanna said that the company is going to work on aggressive growth in the same segments in which it is already serving. As an Engineering, Procurement and Construction (EPC) company, our utility scale order book is 4.4 GW as on December 1, with a value of around Rs 9,000 crore.
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Regarding Rooftop Solar Power EPC business, Khanna said that this is the seventh year in a row that we have been the No. 1 player. He said, “We are also the market No. 1 in the solar pump business and this business has grown slowly and steadily over the years with big-ticket orders. We are also into electric vehicle charging solutions and home automation.”
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Operating Assets to be Close to 5GW Next Year
In the project development business, we have our own operating assets of around 3 GW, which includes 1 GW of wind and 2 GW of solar, he added. Khanna said, “Another 1.5 GW of assets are in the pipeline. By next year, our own operating assets should be close to 5 GW. We want to take this to 15 GW by 2025 with our investment.”
will grow manifold
When asked about the next growth driver for Tata Power from the renewable business, he said the company is performing well and if the opportunities are multiplying, our growth will also be manifold. He said, “We are well positioned with our investments and experience in hybrid solutions, cost-optimal solutions for floating solar, storage and round the clock power. We are not just a renewable energy company but also a distribution company.”
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Leadership will remain in EPC business
Khanna said, the company is going to increase its capacity by at least 2 GW per year with its investment and will maintain its leadership position in the EPC business. “Our growth in every business will be manifold, which may be 5 times or 10 times in the next five to six years. Overall, our growth will be at least five times in the next five years.”
Will increase sales and manufacturing of modules
“In the modules and sales business, there has been some setback in the prices of modules in the last one or two years. Shipping costs and more importantly the availability of containers and vessels have been a constraint. Khanna said, “The last one year has been difficult for us. We are importing and have our own capacity of 1.1 GW of cells and modules. We normally import only those modules for projects which are approved. We are planning to manifold the manufacturing of the cells and modules.”
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