~Adjudged with the Best Risk Management Framework & Systems award under the Power & Risk Governance category~
Tata Power, India's largest integrated power utility, has relentlessly worked towards introducing robust and effective risk management practices by building a highly efficient risk management team. Adding another feather to its cap, Tata Power was honored with the ‘Best Risk Management Framework & Systems Award – Power & Risk Governance Award’ at the 6th Edition of The India Risk Management Awards.
Ms Carmen M. Reinhart, Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School, presided over the ICICI Lombard & CNBC-TV18 India Risk Management awards function and felicitated the winners. The jury consisted of eminent business leaders. The event was attended by Mr. Ramesh Subramanyam, CFO & President-New Business, Mr. Rajesh Daga, Chief - Internal Audit & Risk Management and the Risk Management Team.
Commenting on this achievement, Mr. Praveer Sinha, CEO & Managing Director, Tata Power, said, “We are ecstatic to receive this prestigious award and feel honoured to be felicitated for our efforts by the jury. As one of the leading power entities in India, we are often exposed to risks as well as opportunities. We are proud of our risk management process and systems and the culture of risk management imbedded in all our business operations.”
The CNBC TV18 India Risk Management Award, organized by ICICI Lombard and CNBC TV18, is a grand event which witnesses the coming together of the entire management whose prime focus is mitigating risk. The awards is a unique platform that honours organisations and teams that have developed the best risk management practices and capabilities across business categories.
Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 10,763 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 30% 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
