Tata Power looks for growth abroad

Sees no “tangible business opportunities” in India.

Tata Power said it will focus its overseas expansion on Africa, the Middle East, Turkey and South East Asia. Managing Director Anil Sardana said that international opportunities appear to be moving faster than domestic ones.

“At this stage, we are not looking for any tangible business opportunities in India. I don’t see anything moving on the fuel side (or) project side,” Sardana said.

Tata Power has an installed generation capacity of 7,700 MW. It is also developing a 4,000 MW Mundra plant in Gujarat, India’s first ultra mega power project. Sardana, however, noted that rising imported coal prices is making the Mundra project financially unviable while tariffs remain low, hence the reason for looking abroad for growth

“We are making serious strides in our international opportunities. Africa is moving fast, Middle East and Turkey are moving fast, South East Asian region are moving fast,” Sardana said.