Tata Power’s Consolidated underlying EBITDA up by 16% in Q2; Reports Strong Operational Performance
Mumbai: Tata Power, India’s largest integrated power company, today announced that the Company’s consolidated underlying EBITDA during Q2FY18 is up by 16% due to strong operating performance of all its businesses. In line with the trend that the company has demonstrated over the past quarters, the growth in its underlying EBITDA reflects the company’s increasing operating profitability and healthy cash flow. Additionally, the company also reported a strong all-round performance in H1 FY18 posting an underlying business EBITDA that’s up by 25% when compared with H1 FY17.
In its quest to deliver stakeholder value, the Company has spread its footprint worldwide, setting new benchmarks for operational efficiencies, investing in global resources and redefining paradigms – thereby positioning itself not only as India’s largest integrated power company, but also as India’s largest green energy player. In the year gone by, the Company added 1,463 MW of renewable capacity, thereby surpassing the 2,000 MW operating capacity mark with another about 500 MW currently under construction.
Commenting on the company’s rising underlying EBITDA, Mr. Anil Sardana, MD & CEO, Tata Power, said, “Over the last few years, we at Tata Power have been focusing our efforts towards improving our operational performance and internal processes to strengthen our financial performance, while reducing our operating costs. To this effect we have introduced various technologically forward solutions to impact our end-to-end business and power generating processes. All our conventional and non-conventional power plants across the nation operate at benchmark operational parameters and are making a significant contribution in ensuring the energy security of the country. Our growing underlying EBITDA is a testament to this focused approach in reducing cost and increasing operational efficiencies across the board.”
Tata Power leaves no stone unturned when it comes to ensuring that the operational efficiency of all its power plants is maximized. The company has introduced a novel technique of reducing the effect of temperature on its solar modules by planting aloe vera plants below its solar modules. Such simple yet effective measures have helped the company maximize its operational efficiency thereby helping it register strong underlying EBITDA figures quarter after quarter.
About Tata Power:
Tata Power is India’s largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10643 MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely “Tata Power Delhi Distribution Limited” with Delhi Government for distribution in North Delhi, ‘Powerlinks Transmission Ltd.’ with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and ‘Maithon Power Ltd.’ with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. It is also one of the largest renewable energy players in India with a clean energy portfolio of 3171 MW. Its international presence includes strategic investments in Indonesia through a 30% stake in the leading coal company PT Kaltim Prima Coal (KPC), 26% stake in mines at PT Baramulti Suksessarana Tbk (“BSSR”); in Singapore through Trust Energy Resources to securitize coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called ‘Cennergi’ to develop projects in sub-Sahara Africa; in Zambia through 50:50 joint venture with ZESCO for 120 MW Hydro which has become operational in 2016; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan. With its track record of technology leadership, project execution excellence, world class safety processes, customer care and driving green initiatives, Tata Power is poised for a multi-fold growth and committed to ‘lighting up lives’ for generations to come”. Visit us at: www.tatapower.com