Tata Power is actively looking at opportunities to develop hydro projects as part of efforts to boost its renewable energy portfolio which is expected to make up about one-fourth of its overall generation capacity by 2020.
The country's largest private power producer is already developing hydro projects in India, Nepal and Bhutan.
"The company is also looking at other opportunities (in hydro power) to bid in the near future," Tata Power Managing Director Anil Sardana told PTI.
At present, Tata Power has a hydro power generation capacity of 447 MW in Maharashtra.
Tata Power and Norway-based SN Power's joint venture is developing an 880 MW hydro project in Tamakoshy, Nepal. The entity has also bagged the 240 MW Dugar hydro electric project in Himachal Pradesh.
Further, Tata Power is implementing the 114 MW Dagachhu hydro project in Bhutan.
"Tata Power has aggressive plans of generating 26,000 MW by 2020 and intends to have a 20-25 per cent contribution from 'clean power sources' which will include a mix of hydro, solar, wind, geothermal and waste gas generation," Sardana said.
Currently, the company has an installed generation capacity of 7,700 MW.
In the renewable energy segment, besides hydro, Tata Power is working on various solar, wind, geothermal and waste gases-based power projects.
It has an operational capacity of 375 MW in wind energy and 28 MW in solar power.
Recently, Tata Power along with its consortium partners -- Australia's Origin Energy and PT Supraco Indonesia -- won the bid for 240 MW geothermal project in Indonesia which is under development.
Tata Power also set up various plants at Haldia and Jamshedpur, based on the blast furnace and coke oven gases -- which are waste gases from steel making process.
"The company is also in the process of evaluating different business models for distributed power generation and supply to the rural areas," Sardana said.