Tatas to invest Rs. 1,500 cr in renewables.

Tata Power plans to keep up with its annual investment of Rs. 1,500 crore in renewable energy, even as the company's networth is being eroded by its flagship coal-based project in Mundra. 'We have a lot of support from the board of directors when it comes to our renewable energy plans. So, I am sure we will get the equity required from them,' said Rahul Shah, chief of business development and renewables at Tata Power.

The company had been under the cloud of Mundra which became financially unviable after Indonesia changed its coal export laws. The 4,000 megawatt (Mw) imported-coal based project has been eating into the balance sheet of the company, as it has already taken impairment losses of around Rs. 2,500 crore.

Tata Power would require around Rs. 400-450 crore of annual equity for expanding its renewables capacity. The company plans to add as much as 150-200 Mw of wind and 30 Mw of solar capacity every year. The company, which has a total capacity of 8,521 Mw, produces 500 Mw from renewable sources.

BS