Tata Power lines up Rs 1,250 cr capex plans in wind power
Amid a major drop in fresh capacity addition by wind energy farms, Tata Power, part of the $100 billion Tata Group, plans to spend around Rs 1,250 crore to build electricity generating capacity aggregating to around 180 MW. In addition the firm also plans to set up solar power generating units with potential to produce more than 50 MW of power by the end of 2013-2014.
Rahul Shah, chief business development officer, India business & renewables of Tata Power, told Financial Chronicle that a lot of companies in India stalled their wind capacity development plans after the government withdrew the accelerated depreciation benefits and tax incentives last year. “But our investment into renewable source of power is not based on garnering tax benefits but it’s a company policy to generate 25 per cent of the total portfolio via clean energy sources. We would continue to achieve our target of 150-200 MW of power in wind sector and around 50 MW in solar segment annually,” said Shah.