Tata Power planning geothermal/ solar option in Gujarat, India
Cleantech reports that Tata Power, India's largest private utility seeks to increase the presence of renewables in its 2,300 MW portfolio. The company is part of the Tata group.
Cleantech reports that Tata Power, India’s largest private utility seeks to increase the presence of renewables in its 2,300 MW portfolio. The company is part of the Tata group.
It plans to strengthen its portfolio with power plants using geothermal or solar technology. These projects would come under a partnership with the government of Gujarat, a state in western India. The state plans to sign 25-year fixed-rate tariff contracts that exempt companies from paying an electricity duty on solar power sent to the grid or used on-site. The MOU the company signed with the government of Gujarat is for developing a 5 MW solar plant, but Tata Power will also explore the possibility of a 5 MW geothermal power plant at a suitable location in the state.
In September 2008, Tata Power announced the purchase of a 10% stake in Australian Geodynamics (ASX:GDY) for US$ 37 million. As part of the deal, Tata planned to review the potential of geothermal prospects outside of Australia.