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Tata Power, India's largest integrated private power company, today received the ranking of ‘4th Fastest Growing Energy Company in Asia’ under the Platts Top 250 Global Energy Company rankings for their remarkable and consistent performance last year. The 2010 Platts ranking reflects the company’s strong financial performance that is based on a combination of assets, revenues, profits and return on invested capital. The 2010 ranking was announced in Singapore and was attended by top energy companies from Asia.
The ranking further reaffirms Tata Power’s focused business growth roadmap of achieving a generation target of 25000 MW by 2017 which is backed by the steady progress of executing green-field power projects such as Mundra (4000 MW) in Gujarat and Maithon (1050 MW) in Jharkhand. Among the Asian contenders, many Indian energy companies such as RIL, ONGC, HPCL, BPCL, GAIL, PGCIL, NTPC, Coal India, etc also feature in the list.
Tata Power’s distribution business NDPL also received recognition as a global finalist for technology adoption/ introduction.
The Company’s strong financial flexibility has also been recognized by strong rating conferred by CRISIL (assigned an LAA (pronounced L double A) rating for the proposed Rs. 6.0 billion NCD Programme) and ICRA (assigned an LAA (pronounced L double A) rating for the proposed Rs. 6.0 billion NCD Programme) recently.
The Platts 2010 rankings is a recognition of the 2009 financial performance of publicly-held energy companies based on a combination of assets, revenues, profits and return on invested capital and further highlights the continued leadership of the major oil and gas companies, the rapid advance of the BRICs (Brazil, Russia, India, China) and the resurgence of the global power sector.
About Tata Power:
Tata Power is India's largest private sector power utility with an installed generation capacity of over 2900 MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution - "North Delhi Power Limited" with Delhi Vidyut Board for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. It has acquired 30% stake in Coal Companies at Indonesia and is developing the first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and redefining contours of the Indian power sector, Tata Power is poised for a five-fold growth and committed to 'lighting up lives' for generations to come. For more information go to www.tatapower.com
About Platts:
Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemicals, shipping, and metals markets from 17 offices worldwide. Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better business decisions.
About The Platts Top 250 Global Energy Company Rankings™:
The ranking now in its ninth year, are developed using financial data from Capital IQ, a Standard & Poor's business, which, like Platts, is a division of The McGraw-Hill Companies. To be ranked, companies must have assets greater than US$3 billion and must be publicly listed. Platts’ 2010 performance rankings were unveiled today at the company’s fifth annual Asia Leadership Awards and Recognition Dinner, held at Singapore’s Marina Bay Sands in partnership with Singapore International Energy Week. The gala event, attended by more than 300 industry executives from across Asia, also celebrated the accomplishments of the top Asian energy companies within the Top 250.
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