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Interview with Ashish Khanna – President, CEO & Managing Director


Tata Power Renewables has established a significant renewable energy footprint over the years, with a multi-GW project portfolio in
solar and wind energy, and ambitious growth plans in the segments. A leading player in the industry, the company has a presence in
solar manufacturing, project development as well as engineering, procurement and construction (EPC). With a 225 MW hybrid project and a 105 MW floating solar project in the pipeline, the company is also well placed to explore and tap the potential in emerging segments. In a recent interview with Renewable Watch, Ashish Khanna, president, Tata Power Renewables, discussed recent developments in the industry, the impact of Covid-19 on the company’s portfolio and opportunities in emerging segments.

How has been Tata Power Renewables’ growth over the past year? What are some of the key highlights?

As per our structure, we have a subsidiary called Tata Power Solar, which deals with manufacturing, EPC and third-party arrangements. Tata Power Solar has been doing well as an EPC provider with an order book of 2.5 GW. In terms of solar pump installations, we installed thrice as many pumps as our nearest competitor in the past one year. As a developer, Tata Power has 2.65 GW of operational capacity, of which 1.1 GW is based on wind power while solar makes up the remaining 1.55 GW. There is almost 1 GW of capacity in the pipeline. Under manufacturing, we currently have 300 MW of cell and 400 MW of module manufacturing capacity. We are aiming for an aggressive growth in the future and are expecting our capacity to increase by four to five times the current amount over the next five years. In the utility-scale segment, we should be at a capacity of 10-15 GW by 2025.

What are your growth plans in emerging segments such as hybrids, storage and floating solar?

Since we have experience in the solar and wind segments, we are well positioned to venture into wind-solar hybrids. These are very promising since they have a higher combined capacity utilisation factor, utilise common infrastructure optimally and help in grid management. Currently, the common use of the solar and wind compo nents is limited to transmission infrastructure. Achieving common use at the equipment level is a potential area of development, which will also help reduce costs. Tata Power Green Energy Limited recently received a letter of award to develop a 225 MW hybrid renewable power project at the lowest tariff so far. Further, we are well poised for round-the-clock power tenders, which involve bundled energy consisting of renewables and thermal power. Having already installed a floating solar plant on one of Tata Power’s reservoirs, Tata Power Solar is currently in the process of building India’s largest floating solar project of 105 MW for NTPC Limited in Kayamkulam, Kerala. Overall, Tata Power Renewables is in a good position to venture into projects with emerging technologies.

What is the growth opportunity in the residential rooftop solar segment?

Currently, the project sizes are small in the rooftop space and economies of scale do not exist in this segment. We must look at the future potential in this area since most rooftops in India receive a good amount of sunlight throughout the year, unlike most countries in the west. The way tariffs are structured in India, residential rooftop solar tariffs are more subsidised than commercial rooftop tariffs. This results in a longer payback period for residential rooftop solar projects. While the government is eager to promote residential rooftop solar by rolling out subsidies, it is not a win-win situation for the distribution companies and rooftop solar solutions providers. We need to have a situation where tariffs are determined in a way that the payback period becomes shorter.

How has Covid-19 impacted the upcoming capacity?

 There are two major impacts of the pandemic, an increase in working capital and difficulty in mobilising the workforce. As far as Tata Power Renewables is concerned, its project pipeline has been impacted. The force majeure conditions have affected project timelines, which are being extended. This will lead to stress on the working capital. Also, the reverse migration of labour has taken place and it will be difficult to mobilise the workforce in the same way as it was done earlier. In the past, we used to ramp up workforce in a short duration of time. The project timelines were also based on the timely arrival of raw materials. Since renewable projects are cost sensitive, timelines were kept short in order to minimise the working capital. Thus, timeline extensions would result in higher overall costs. Further, logistics is currently a challenge in the country. Although project durations have been extended, we did not have any upcoming project commissioning that has been impacted.

With Covid-19 and the likely imposition of customs duties, how do you expect solar project costs to be affected?

We will be in a better position to understand this once the customs duties are announced. With regard to safeguard duties, the ministry has declared a pass-through for all the projects that have been bid out, or are under construction. Although I do not foresee a major change in costs, the working capital losses are bound to happen. There may not be much variation in the cost of solar projects that are being commissioned or have already been bid out. Further, there are many lessons to be learnt from the imposition of safeguard duties. Even though the CERC has mandated a formula, there are still many states that are not increasing the tariff. Such challenges must be taken into account in the case of customs duties as well.

What measures has the company taken to safeguard against future risks?

 Apart from project development, Tata Power Renewables is involved in manufacturing as well as third-party EPC of utilityscale and rooftop projects, microgrids, captive projects, etc. In each of these areas, we are working with a different set of schemes. For instance, in manufacturing we are spacing out shifts while for EPC we plan to hire a larger number of people for a longer duration to avoid issues in ramping up. We are now building projects along with infrastructure around the project site so that mobilising the workforce and materials becomes more convenient, while communication with the outside community is minimised for safety. We are also focusing on automation and the use of technology to reduce the dependency on manpower. We are developing infrastructure to provide accommodation for the teams at the sites of our operational plants. We have invested in digitalisation and technology in the past, and are now reaping the benefits. Some of the key investments have been made in esecurity, robotic cleaning and off-site management systems. It would have taken a year or so to adopt these as standard operating practices, but the outbreak of Covid-19 has catalysed the process.

What is your outlook for the renewable energy sector in India?

There is immense potential for renewable energy to grow in the country. Renewables should not be made to compete with thermal power, while competition between solar and wind should also not be important. Instead of pegging these power sources against each other, we should aim for a holistic growth. Each segment in itself has enough opportunities to grow, having unique complementary advantages. Tariffs for renewable energy projects should also not be too aggressive, or it may result in a loss for investors. On the policy side, the government should come out with a long-term policy direction. The certainty of power offtake is very important since it increases confidence among developers. There should be enough investments in the research and development of technology, which can support the industry’s initiatives to expand renewable energy projects. For the industry to thrive there should be a win-win solution for discoms as well as developers. This entails working with a larger goal in mind.

Source: Tata power solar

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Tata Power Solar wins Rs 1,200 crore order to set up 320 MW project


Tata Power Solar on Saturday announced that it has bagged an order worth Rs 1,200 crore from state-run power giant NTPC for setting up of 320 MW ground mounted solar project.

Tata Power Solar, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received a “Letter of Award (LoA)” to build 320 MW of ground mounted Solar PV project for NTPC, a company statement said.

The order value of the project is approximately Rs 1,200 crore ( USD 162 million). The commercial operation date for this project is set for May 2022.

Source: The Energy Times

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Tata Power Solar receives LOA for GSECL project worth Rs 4,600 mn

Tata Power Solar, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received a “Letter of Award” (LoA) to build 95 MW of ground mounted Solar PV project for GSECL. The order value of the project is approximately Rs 4,600 million (USD 63 million). The commercial operation date for this project is set for April 2022.

With this addition, the order pipeline of Tata Power Solar Systems (TPSSL) stands at approximately 4.2 GWp with an approximate value of Rs 125,000 million, thereby cementing its position as India’s leading Solar EPC player for seventh year in a row among utility scale.

The company specialises in providing comprehensive EPC solutions and also manufactures high efficiency PV modules.

Tata Power Solar deploys world-class technology to design, install and commission benchmark solar projects worldwide. The company has offered a range of indigenous solar rooftop EPC solutions to its customers which has helped them to transform their businesses into a sustainable and environmentally responsible organisation, enabling them to reduce their energy costs through the installation of cost-effective renewable technologies.

Speaking on the achievement, Praveer Sinha, CEO & MD, Tata Power said, “We are glad to announce this new win of large grid-based solar EPC contract from GSECL, a leading public sector undertaking. We have been progressively growing our portfolio to be the partner of choice for gridscale solar projects. These orders are a motivation for us to continue focusing on delivering the best to our customers and live up to their expectations.”

Shares of the company gained Rs 1.25, or 1.65%, to settle  at  Rs 77.20.  The total volume of shares traded  was  3,071,837 at  the BSE (Thursday).

Source: Myiris

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Tata Power Solar receives letter of award to build GSECL’s Rs 460-cr project


Tata Power Solar has received a letter of award (LoA) to build 95 megawatt (MW) of solar photovoltaic project worth about Rs 460 crore for Gujarat State Electricity Corporation Ltd (GSECL). “Tata Power Solar, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received a letter of award (LoA) to build 95 MW of ground-mounted solar PV project for GSECL,” according to a statement.

The project’s order value is about Rs 460 crore (USD 63 million). The commercial operation date for this project is set for April 2022.

With this addition, the order pipeline of Tata Power Solar Systems Ltd (TPSSL) stands at about 4.2 gigawatt peak (GWp) with a value of about Rs 12,500 crore, thereby cementing its position as India’s leading solar EPC player for seventh year in a row among utility scale.

Source: Economic Times

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Tata Power Solar Bags Rs 460 Cr Ground Mounted PV Project for GSECL


Utility giant Tata Power’s renewable energy arm Tata Power Solar has received the Letter of Award (LoA) to build 95 MW of ground mounted Solar PV project worth approximately Rs 460 crore (or USD63 Million) for Gujarat State Electricity Corporation Ltd (GSECL).

Further, the commercial operation date for this project is expected to be April 2022.

Commenting on the achievement, Praveer Sinha, CEO & MD of Tata Power said that, “we are glad to announce this new win of large grid-based solar EPC contract from GSECL, a leading public sector undertaking. We have been progressively growing our portfolio to be the partner of choice for grid-scale solar projects. These orders are a motivation for us to continue focusing on delivering the best to our customers and live up to their expectations.”

With this addition, the order pipeline of Tata Power Solar Systems Ltd (TPSSL) stood at approx 4.2 GWp with an approx value of Rs 12,500 crore, thereby cementing its position as India’s leading Solar EPC player for seventh year in a row among utility scale.

The company specialized in providing comprehensive EPC solutions and also manufactures high efficiency PV modules.

The company offered a range of indigenous solar rooftop EPC solutions to its customers which have helped them to transform their businesses into a sustainable and environmentally responsible organisation, enabling them to reduce their energy costs through the installation of cost-effective renewable technologies.

Earlier, the company had successfully implemented large projects such as 150 MW Ayana at Ananthapur, 50 MW Kasargod at Kerala, 56MW Greenko, 30MWp Solar Power Plant in Lapanga, Odisha, 105MWp of floating solar at Kayamkulam (under implementation). It has also won an auction conducted by Gujarat for 400 MW of projects to be built at Dholera solar Park.

Source: Energetica india

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Tata Power Solar Confirms Rs 460 Crore Project Award From GSECL


Tata Power Solar has received an LoA to build a 95 MW solar project for GSECL, the order value of the project is approximately Rs 460 crores.
Tata Power Solar, one of India’s largest integrated solar companies and a wholly-owned subsidiary of Tata Power, has announced that it has received a Letter of Award (LoA) to build a 95 MW ground-mounted solar PV project for Gujarat State Electricity Corporation Limited (GSECL). The order value of the project is approximately Rs 460 crores. The Commercial operation date for this project is set for April 2022.

With this addition, the order pipeline of Tata Power Solar Systems (TPSSL) stands at approximately 4.2 GWp with an approximate value of Rs 12500 crore, thereby cementing its position as one of India’s leading solar EPC players for the seventh year in a row among utility scale.

The company specialises in providing comprehensive EPC solutions and also manufactures high-efficiency PV modules.

Speaking on the achievement, Praveer Sinha, CEO & MD, Tata Power said, “we are glad to announce this new win of large grid-based solar EPC contract from GSECL, a leading public sector undertaking. We have been progressively growing our portfolio to be the partner of choice for grid-scale solar projects. These orders are a motivation for us to continue focusing on delivering the best to our customers and live up to their expectations.”

Over the years, TPSSL has been India’s leading solar rooftop EPC player with compelling economics, especially for the commercial and industrial segment, favourable government policies, and increased environmental awareness have been the key growth drivers. The firm has successfully implemented large projects such as the 150 MW Ayana at Ananthapur, 50 MW Kasargod at Kerala, 56 MW Greenko, 30 MWp solar plant in Lapanga, Odisha, 105 MWp floating solar at Kayamkulam (under implementation). It has also won an auction conducted by Gujarat for 400 MW of projects to be built at Dholera solar Park.

Earlier this week, the renewable business unit of Larsen & Toubro (L&T), the construction and engineering giant, had announced key contracts in Gujarat. These contracts were won through GSECL (Gujarat State Electricity Corporation Limited) and NTPC Limited.

The GSECL contract for a 210 MW capacity solar project was won through an e-reverse auction on January 22, 2021. The project is for a state-specific scheme in waste government lands near the GETCO substation. L&T won this bid against the other bidder, Tata Power, with an approximate value of Rs 960 crores.

The NTPC bid was won on Jan 18, 2021, again through an e-reverse auction by NTPC. For a project capacity of 200 MW, to be located anywhere in Gujarat. NTPC had won the rights for the project as part of the GUVNL Phase XI scheme. The approximate value here is Rs 850 crores, and the other bidder again was Tata.

Recently, Tata Power Solar had announced that it had bagged an order worth Rs 1,200 crore from national generator NTPC for setting up of a 320 MW ground-mounted solar project. The commercial operation date for this project is set for May 2022.

Source: Saurenergy

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