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Tata Power is considering acquiring stranded assets of power companies, if they are found attractive enough, said Cyrus Mistry, Chairman of the company on Wednesday, while addressing the shareholders at the company’s Annual General Meeting.
The company appreciates the measures taken by the new government for infrastructure development. It hoped that the locked equity in these assets is also opened up, he said. Due to slowdown in economy, lack of fuel linkages and environmental clearances, power project worth Rs. 1 lakh crore have been stuck. Power companies such as JSW Energy and NTPC also have similar strategies for inorganic growth.
Mistry said for enhancing power generation, the company besides focussing on fuel availability was also increasing renewable energy capacities through solar and wind power projects. The domestic hydro power sector has a lot of untapped potential, which can be harnessed for a desirable level of power generation mix, he said.
He pointed out that the company’s strategic engineering division was focussed towards indigenisation of components under the ‘Make in India’ for the Defence industry. “The division’s recent selection for the Battlefield Management Systems programme is a testimony of our capabilities,” Mistry said.
The slowdown in the Chinese economy will have a significant impact on the commodities prices especially of coal. Lower coal prices will have significant impact on Coastal Gujarat Power Ltd (CGPL) lifting of sanctions on Iran will open up new opportunities for energy companies, he said.
The CGPL is a 4,000-MW ultra mega power project of the company based on Indonesia coal. Also addressing the shareholders, Anil Sardana, CEO and Managing Director, said during the last fiscal the company has grown cautiously but methodically.
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