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Tatas eye six-fold jump in green power capacity

According to reports, Tata Power is eyeing an over six-fold increase in its clean energy capacity – wind, solar and hydro power – to 6,500 megawatt (MW) by 2020, a fourth of its projected total energy capacity of 26,000 MW.

The company, which has so far invested Rs. 2,400 crore, plans to invest Rs. 1,250 crore more to take its clean energy portfolio to 2,000 MW by 2013-14 from the current 852 MW .

The Tata Group firm is banking on acquisitions, capacity addition and overseas expansion to achieve the target.

The company has an installed capacity of around 376 MW in wind, 447 MW in hydro, and 28 MW in solar spread across Tamil Nadu, Karnataka, Maharashtra and Gujarat. It is looking to acquire clean energy assets to expand its portfolio.

“There are interesting opportunities in hydro and wind power segments,” said Rahul Shah, chief-business development, India Business and Renewables, Tata Power.

The company is also looking at clean energy opportunities overseas.

It has formed a joint venture (JV) with the Royal Bhutan government for building a 114-MW hydro power capacity, and is evaluating projects in Nepal in partnership with Norway-based SN Power.

Tata Power’s JV company with Exxaro in South Africa is building a 240-MW wind farm, and the company, along with Australian firm Origin Energy, also won the bid for a 240-MW geothermal project in Indonesia.

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  1. IF this kind of low cost debt fund given only for few large corporate companies in a democratic country(?!) (0.1% interest rate per annum(!!) for 20 years term) is provided with a financial model to attract small and new entrepreneurs in every Taluka of India, we can implement 50,000 MW in next 5 years. This will also create many Tatas and Ambanis so that power tariff can be very low (rs. 4 or 5/kwh for solar pv) so that Common man survives and need not own 27 storey building in Mumbai, but, can remain in a small hut and take care of 25 MW in his village while providing good number of jobs….. Can INDIANS take note of this and unlock the potential of small entrepreneurs??

    From Finanical Express:
    Four years after Tata Motors relocated its Nano plant from Singur to Sanand, the “sweet deal” it was reportedly offered by the Gujarat government is turning out to be sour, with the first instalment of the promised soft loan of over Rs 2,000 crore yet to be disbursed to the company.The two sides have not even been able to agree on the loan amount and annual disbursement, despite a series of meetings between officials and Tata executives. According to a top official, a Gujarat government committee has approved a provisional loan of Rs 2,138.85 crore at 0.10 per cent annual interest, but the company’s demand is much higher.
    As per Tata’s claim and a government resolution issued on January 1, 2009, the projected investment in the Nano plant, including the cost of shifting from Singur, is Rs 3,466 crore. State Industries Commissioner Kamal Kumar Dayani said the issue was yet to be resolved though the government had agreed to release Rs 120 crore in the first instalment. “We haven’t received a formal claim from the company,” Dayani said, adding that the amount could not be released until the company formally sought it.

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