Tata Power on Tuesday said that its renewable business registered a healthy profit, while surpassing the 2,000 MW operating capacity mark with about 500 MW under construction.
In keeping with its commitment to generate 30 per cent to 40 per cent power by 2025 through renewable sources of energy, the company added 1,350 MW of renewable capacity during the year, Tata Power said in a statement.
"We are happy to announce that Tata Power has registered a strong growth in renewables, which is one of our key focus areas through our recent acquisition of solar assets. The renewable energy business made a healthy contribution to PAT this year and we continue to be the largest renewable player in the country," Tata Power CEO and MD Anil Sardana said.
The company aims to pursue a well charted growth strategy by demonstrating a high level of commitment towards cleaner sources of generation thus increasing the share of non-fossil fuel based generation output to 30-40 per cent by 2025, he said.
Tata Power's non-fossil fuel based green generation portfolio (comprising of hydro, waste gas, solar & wind) crossed the 3,000-mark to stand at 3,141 MW.
During 2016-17, Tata Power's renewable arm Tata Power Renewable Energy Limited completed the acquisition of WREPL, which had 1,140 MW of renewable power projects.
On the international front, Tata Power's South African joint venture company, Cennergi, started commercial operations of both its wind farms totalling 230 MW, making its India's truly international power company.
The company will continue to work towards ensuring its renewable business that remains the largest renewable in the country.