Mumbai, August 07: Private utility Tata Power on Thursday said it has planned a capital expenditure of Rs 23,600 crore for the next three years to expand its generation capacity.
The company, which has so far installed 2,875 MW of capacity, currently has projects to the tune of 10,000 MW in different stages of development, Chairman Ratan Tata said.
“Our capex over (next) three years is 23,600 crore, both debt and equity,” Tata told shareholders at the company’s Annual General Meeting here. This includes Rs 1,500 crore raised through a GDR issue last month, he said.
India’s largest private sector power utility is currently developing the 4,000 MW Mundra Ultra Mega Power Project (UMPP) in Gujarat and another 1,050 MW joint venture project at Maithon in West Bengal.
Besides, there are five other projects in the pipeline aggregating to 480 MW, including hydro and wind power.
“We will be six times our size by 2013. Our various projects underway as well as at the planning stage will ensure that our capacity will be about six times our current capacity,” Tata Power Managing Director Prasad R Menon said.
“Additional projects have been identified for a total of over 6,000 MW,” Menon added.
Tata Power currently supplies electricity to over 30,000 individual and bulk industrial consumers in Mumbai and expects to double the number of consumers.
“Till the end of July, over 30,000 consumers have expressed interest for a change-over to Tata Power for power supply and this trend will significantly rise over the coming months,” Tata said.
“We look very actively to increase our distribution capacity across the country. We are keen to have a stake in the nuclear power area if we have Government permission,” Tata said.
–Agencies