~ Recognizes Tata Power’s ability to help customers improve their finances through energy savings and reducing carbon footprint~
Bureau of Energy Efficiency BEE has assigned Grade 1 ESCO grading rating to Tata Power in recognition of their ESCO (Energy Service Company) business performance. BEE an autonomous body constituted under the Ministry of Power, is responsible for driving policies and strategies for the overall reduction the energy intensity of the India economy. A Grade 1 rating for energy audit and energy efficiency project implementation business, indicates a ‘Very High’ ability to implement energy saving measures for customers. There this accreditation formally recognizes Tata Power’s ability to conduct detail energy audits and implement projects to improve energy efficiency for all types of energy-intensive businesses that in turn translates into improved financials, productivity and reduced carbon footprint for its customers.
This year, BEE have given various levels of accreditation to 25 agencies, out of which only Tata Power has been assigned Grade 1 ESCO rating. There are only 13 Grade 1 accredited agencies in India and Tata Power is the only utility company to feature with this ranking.
On behalf of BEE, ICRA one of India’s leading rating agencies, has undertaken this assessment and credits Tata Power’s diversified and reputed client-base across various sectors coupled with an established track record in the power and energy management sector as the drivers for the company’s ESCO business ratings. It also believes that the company’s excellent project management performance in the energy efficiency/management industry along with its strong in-house research and development team for innovative energy efficiency technologies are other important parameters to facilitate this rating.
Tata Power has been performing energy efficiency project activities for more than a decade through the installation of various waste heat recovery projects for power and steam generation. It has also been working on the energy efficiency of power plants both in the conventional and non-conventional sector. It has been an ESCO since the past nine years though it has always been instrumental in providing these services to its commercial and industrial customers in Mumbai and Delhi where Tata Power is responsible for the distribution of electricity.
Mr. Praveer Sinha, CEO & Managing Director, Tata Power, said, “Efficient energy consumption is a critical part of every business entity. ICRA’s high rating of ICRA-BEE Grade 1 for our ESCO vertical is a testimony of the robustness of our offering and its ability to take on challenging energy saving projects to add value to our customers. In today’s business environment this is not only crucial for better financials but also helps businesses in lowering their carbon footprint thereby achieving their sustainability objectives.”
Tata Power’s ESCO projects in the pipeline include replacement of existing streetlight points with LED and maintenance of the same for North Delhi Municipal Corporation, Ludhiana Municipal Corporation and Nashik smart street lighting project.
Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 10857 MW. A pioneer in the field, it has a presence across the entire power value chain: Generation of renewable as well as conventional power including hydro and thermal energy; transmission & distribution, trading and coal & freight logistics. With renewable energy assets in solar and wind accounting for 22% of the company's portfolio, Tata Power is a leader in clean energy generation. In line with the company's view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, microgrids and home automation & smart meters.
It has successful public-private partnerships in generation, transmission & distribution in India namely: ‘Tata Power Delhi Distribution Ltd.’ with Delhi Vidyut Board for distribution in North Delhi; 'Tata Power Ajmer Distribution Ltd.' with Ajmer Vidyut Vitran Nigam Ltd. for distribution in Ajmer; 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi; 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology.
With growing international focus, Tata Power's global presence includes strategic investments in Indonesia through a 30% stake in the coal company PT Kaltim Prima Coal (KPC); 26% stake in mines at PT Baramulti Suksessarana Tbk (BSSR); in Singapore through Trust Energy Resources; in South Africa through a joint venture called ‘Cennergi’ to develop projects in sub-Sahara Africa; in Zambia through a 50:50 joint venture with ZESCO for 120 MW Hydro project; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project; in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.
With its 103 years track record of technology leadership, project execution excellence, world-class safety processes, customer care and driving green initiatives, Tata Power is poised for multi-fold growth and committed to 'lighting up lives' for generations to come. Visit us at: www.tatapower.com
