Tata Power Solar more than doubles top line in 2 years
Solar plant in India. Source: NTPC. License: All rights reserved.
The solar unit of Indian utility Tata Power Co Ltd (BOM:500400) has raised its revenue by more than 2.5 times in the past two years to INR 22.62 billion (USD 350m/EUR 314.4m), the parent company said on Monday.
Tata Power Solar Systems Pvt Ltd has commissioned many major projects in fiscal 2016/17, including a 100-MW plant in Andhra Pradesh for utility NTPC Ltd (BOM:532555), Tata Power said in a statement.
Anil Sardana, Tata Power’s CEO and managing director, commented that the group will continue to focus on renewables, whether it is generation or manufacturing.
In March, Tata Power Solar announced it had completed an upgrade of its factory in Karnataka state, doubling its production capacity for solar modules to 400 MW and increasing that for cells by 65% to 300 MW. The company has also modernised and fully-automated the entire plant.