Tata Power Coming Out Of Legacy Issues, Says Praveer Sinha

Tata Power Co. is gradually coming out of its legacy issues with renewal of mining lease, progress at its Mundra plant, stake sale in renewables business and stabilising Odisha operations, according to Praveer Sinha.

Narrowing Mundra losses and higher coal volumes would aid the company’s operating performance, the chief executive officer and managing director at the company told BQ Prime in an interview. He is also confident of achieving 15-gigawatt renewable capacity by FY25 even as the company failed to achieve 2GW wind power generation targets for the last fiscal due to entry of a few large firms.

According to Sinha, higher commodity prices and solar modules mainly led to cost inflationary pressures for the company for FY22. But it has hedged pricing of solar modules, which will make it better equipped to face such kind of pressures, he said.