Tata Power

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Tata Power
Type Public Company
Traded as NSETATAPOWER
BSE500400
BSE SENSEX Constituent
CNX Nifty Constituent
Industry Electric utility
Founded 1911
Founders Dorabji Tata
Headquarters Mumbai, Maharashtra, India
Key people Cyrus Pallonji Mistry (Chairman)
Anil Sardana (CEO and MD)[1]
Products Electrical power
Natural gas
Services Electricity generation and distribution
natural gas exploration, production, transportation and distribution
Revenue IncreaseINR330254 million (US$5.4 billion) (2013)[2]
Operating income IncreaseINR64447 million (US$1.0 billion)(2013)[2]
Net income Increase INR12766 million (US$210 million)(2013)[2]
Employees 4,126 (March 2013)[3]
Parent Tata Group
Website www.tatapower.com

Tata Power is an Indian electric utility company based in Mumbai, Maharashtra, India and is part of the Tata Group.[4] The core business of the company is to generate, transmit and distribute electricity.[5] With an installed electricity generation capacity of about 8560 MW, it is India's second largest private power producer.[6][7] At the end of August 2013, its market capitalisation was $2.74 billion (INR 182 billion).[8]

History[edit]

The firm started as the Tata Hydroelectric Power Supply Company in 1911, which amalgamated with the Andhra Valley Power Supply Company in 1916.[9] It commissioned India’s first large hydro-electric project in 1915 in Khopoli for 72 MW. Then second and third power plants were installed in Bhivpuri (78 MW) in 1919 and Bhira (300 MW) in 1922.[7][10][11]

Operations[edit]

Tata Power has operations in India, Singapore, Indonesia, South Africa and Bhutan.[3] Tata Power Group has its operations based in 35 locations in India.[3]
The thermal power stations of the company are located at Trombay in Mumbai, Mundra in Gujarat, Jojobera and Maithon in Jharkhand, Haldia in West Bengal and Belgaum in Karnataka.[12] The hydro stations are located in the Western Ghats of Maharashtra and the wind farms in Ahmednagar, Supa, Khanke, Brahmanwel, Gadag, Samana and Visapur.[12] The company installed India’s first 500 MW unit at Trombay, the first 150 MW pumped storage unit at Bhira, and a flue gas desulphurization plant for pollution control at Trombay.[13] It has generation capacities in the States of Jharkhand and Karnataka, and a distribution company in Delhi, servicing over one million consumers spread over 510 square km in the North Delhi. The peak load in this area is about 1,150 MW.[14] Tata Power announced on 24 July 2012, commissioning of the second unit of 525 MW capacity of the Maithon mega thermal project in Dhanbad. The first unit of identical capacity was commissioned in September 2011.[15]

Major power plants[edit]

International operations[edit]

The company has executed overseas projects in the Middle East, Africa and South East Asia including the Jebel Ali 'G' station (4 x 100 MW + desalination plant) in Dubai, Al-Khobar II (5 x 150 MW + desalination plant) and Jeddah III (4 x 64 MW + desalination plant) in Saudi Arabia, Shuwaikh (5 x 50 MW) in Kuwait, EHV substations in UAE and Algeria, and power plant operation and maintenance contracts in Iran and Saudi Arabia.[20][21] [22]

Strategic Engineering Division[edit]

The firm's Strategic Engineering Division (SED) has engaged in defence systems and engineering for over four decades. It works with the MoD and laboratories to provide products and solutions for the defence requirements of the country.[23][24]

It has already cleared the Joint Receipt Inspection (JRI) for the first two lots of Pinaka launchers and command posts; the third and fourth lots have successfully undergone factory acceptance tests.[25] Tata Power's Strategic Electronics Division won a tightly contested Rs. 1,000-crore contract for modernising 30 Indian Air Force airbases.[26]

Problems[edit]

In cause of dramatically higher coal prices as assumed in the plannings and a fixed price arrangement the Mundra plant in 2012 made big losses.[27] After three successive years of losses as a result, cash flow was becoming an issue for the company. In January 2014 the company sold a 30 percent stake in Indonesian coal company PT Arutmin for $500 million. In July 2014 it signed an option to sell a 5 percent stake in Indonesian coal company Kaltim Prima Coal for $250 million.[28]

Future projects[edit]

Tata Power has entered into a 51:49 joint venture with PowerGrid Corporation of India for the 1200 km Tala transmission project, India’s first transmission project executed with public-private partnership financing.[29]
Tata Power has plans to expand generation capacity of 4,000 MW Mundra plant, the country's first operational ultra mega power project, to 5,600 MW.[30][31]

The company has also entered into a 74:26 joint venture with Damodar Valley Corporation for building a 1050 MW coal based thermal power plant at Maithon in Dhanbad district of Jharkhand, into a 74:26 joint venture with Tata Steel Limited for setting up of power plants to meet the captive requirements of Tata Steel.[32]

Tata Power has announced its partnership with Sunengy an Australian firm to build India's first floating solar plant based on Liquid Solar Array[clarification needed] technology.[33][34][35]

Shareholding[edit]

As on 31 March 2013, Tata Group held 32.47% shares in Tata Power. Around 210,000 individual shareholders hold approx. 14% of its shares. Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 12.90% shareholding.[2][36]

Shareholders Shareholding[2]
Promoters: Tata Group companies 32.47%
Foreign Institutional Investors 24.53%
Insurance Companies 21.59%
Individual shareholders 14.08%
GDRs 03.22%
Others 04.11%

The equity shares of Tata Steel are listed on the Bombay Stock Exchange,[37] where it is a constituent of the BSE SENSEX index,[38] and the National Stock Exchange of India,[39] where it is a constituent of the S&P CNX Nifty.[40]
Its Global Depository Receipts (GDRs) are listed on the London Stock Exchange[41] and the Luxembourg Stock Exchange. [42] [43] [44]

Awards and recognitions[edit]

  • Tata Power’s Singapore-based subsidiary Trust Energy Resources was conferred the 'International Maritime Awards 2013' by the Singapore Government. The award grants the company tax exemption for shipping operations, besides incentives.[45]
  • Tata Power won two awards at the Power Line Award 2013: Best Performing Private Discom' award for its Delhi distribution arm Tata Power Delhi Distribution Limited and Runners up award for 'Best Performing Renewable Company'.[46]
  • Trombay Thermal Power Station received Greentech Safety Award 2011 in the gold category (in thermal power sector) for Safety Management.[47][48]
  • In 2011, Tata Power was conferred the BML Munjal award for excellence in learning and development for the year 2011. Tata Power won the award in private sector category.[49]

See also[edit]

External links[edit]

References[edit]

  1. ^ "Tata Power Company Ltd. - Company Info - Management". Economic Times. Retrieved 1 September 2013. 
  2. ^ a b c d e "Annual Report 2012-13". Tata Power. Retrieved 1 September 2013. 
  3. ^ a b c "Business Responsibility Report for FY 2012-13". Tata Power. Retrieved 1 September 2013. 
  4. ^ "About Us - Profile". Tata Power. Retrieved 1 September 2013. 
  5. ^ "Fact sheet - General Background". Tata Power. Retrieved 1 September 2013. 
  6. ^ Thakkar, Mitul (4 April). "Adani Power becomes India’s largest private power producer". The Economic Times. Retrieved 8 September 2014.  Check date values in: |date= (help)
  7. ^ a b "Tata Power eyes stronger overseas presence". Business Standard. 23 June 2013. Retrieved 1 September 2013. 
  8. ^ "Market capitalisation of Tata companies as on August 29, 2013". Tata Group. 30 August 2013. Retrieved 1 September 2013. 
  9. ^ "Tata Power Company Ltd.". NDTV.com. Retrieved 1 September 2013. 
  10. ^ "History: Our Legacy". Tata Power. Retrieved 1 September 2013. 
  11. ^ "Tata Power, SN Power announce their partnership to set up hydro power projects in India & Nepal". Business Standard. 30 October 2009. Retrieved 1 September 2013. 
  12. ^ a b "Power Projects". Tata Power. Retrieved 1 September 2013. 
  13. ^ "Trombay plant's 500MW unit modernisation by '15: Tata Power". moneycontrol.com. 16 December 2012. Retrieved 1 September 2013. 
  14. ^ "Profile - Tata Power Delhi Distribution". Tata Group. Retrieved 1 September 2013. 
  15. ^ "Tata Power’s second unit of Maithon project on stream". 25 July 2012. 
  16. ^ http://www.sourcewatch.org/index.php/Tata_Mundra_Ultra_Mega_Power_Project
  17. ^ http://www.sourcewatch.org/index.php/Trombay_Power_Station
  18. ^ http://www.sourcewatch.org/index.php/Maithon_Right_Bank_Thermal_Power_Station
  19. ^ http://www.sourcewatch.org/index.php/Jojobera_Power_Plant_unit_5
  20. ^ "Tata Power has mega core plans". Economic Times. 7 February 2008. Retrieved 1 September 2013. 
  21. ^ "Tired of delays, Tata Power turns to overseas for expansion". Times of India. 29 July 2012. Retrieved 1 September 2013. 
  22. ^ "Sustainability Report 2008-09 - Tata Power". Tata Power. Retrieved 1 September 2013. 
  23. ^ "Strategic Engineering Division (SED)". Tata Power. Retrieved 1 September 2013. 
  24. ^ "Centre for Excellence in Strategic Electronic". Tata Power SED. Retrieved 1 September 2013. 
  25. ^ "Tata Power announces standalone and consolidated Q2 FY 2010-11 results publisher=". 12 November 2010. Retrieved 1 September 2013. 
  26. ^ "Multi-million-dollar defence contracts get brighter for India Inc". Economic Times. 17 April 2011. Retrieved 1 September 2013. 
  27. ^ http://www.business-standard.com/article/markets/analysis-tata-power-s-umpp-woes-112053000140_1.html
  28. ^ "CLoss making Tata Power to sell 5pc stake in Indonesian coal mine". India Gazette. Retrieved 5 July 2014. 
  29. ^ "Tata Power eyes overseas transmission project". Economic Times. 12 August 2012. Retrieved 1 September 2013. 
  30. ^ "Tata Power plans increasing Mundra UMPP capacity to 5,600 MW". Economic Times. 28 May 2013. Retrieved 1 September 2013. 
  31. ^ "Doosan Completes World’s Largest 4000MW Mundra Power Plant". 4 April 2013. Retrieved 1 September 2013. 
  32. ^ "Activities - Generation - Overview". Damodar Valley Corporation. Retrieved 1 September 2013. 
  33. ^ "Tata Power inks deal with Australian co for floating solar units". The Hindu. 22 March 2011. Retrieved 1 September 2013. 
  34. ^ "Media releases - Sunengy, Australia, partners with Tata Power to build the first floating solar plant in India". Tata Group. 22 March 2011. Retrieved 1 September 2013. 
  35. ^ "Tata Power to build India's first floating solar plant". moneycontrol.com. 22 March 2011. Retrieved 1 September 2013. 
  36. ^ "Shareholding Pattern as on 31st March 2013". Tata Power. Retrieved 1 September 2013. 
  37. ^ "Tata Power Co. Ltd.". BSEindia.com. Retrieved 1 September 2013. 
  38. ^ "Scripwise Weightages in S&P BSE SENSEX". BSE India. Retrieved 31 August 2013. 
  39. ^ "Tata Power Company Limited". NSE India. Retrieved 1 September 2013. 
  40. ^ "Download List of CNX Nifty stocks (.csv)". NSE India. Retrieved 31 August 2013. 
  41. ^ "TPCL Tata Power Company Limited GDR (each representing 1 ordinary share)". London Stock Exchange. 27 July 2009. Retrieved 31 August 2013. 
  42. ^ "TataPower GDS 09 ne". Luxembourg Stock Exchange. 28 July 2009. Retrieved 1 September 2013. 
  43. ^ "Tata Power raises $335 mn through GDRs". Times of India. 23 July 2009. Retrieved 1 September 2013. 
  44. ^ "Share Trading". Tata Power. Retrieved 1 September 2013. 
  45. ^ "Award for Tata Power arm". The Hindu. 16 April 2013. Retrieved 1 September 2013. 
  46. ^ "Achievements and Awards". Tata Power. Retrieved 1 September 2013. 
  47. ^ Safety Award 2011ww.tatapower.com/sustainability/awards.aspx "Sustainability Awards". Tata Power. Retrieved 1 September 2013. 
  48. ^ "Tata Power gets green award". DNA. 8 April 2011. Retrieved 1 September 2013. 
  49. ^ "BML Munjal award for excellence". Times of India. 29 April 2011. Retrieved 1 September 2013.