~ Tata Power made it into the ‘Leadership’ category list for the second time ~
Tata Power, one of India's largest integrated power companies, has been ranked among the top 20 companies in Indian Corporate Governance Scorecard for FY 21. The Scorecard has been developed by the Institutional Investor Advisory Services India Limited (IiAS) with support from the International Finance Corporation (IFC) and BSE Limited. It is built around the G20/OECD Principles of Corporate Governance, which are the globally accepted benchmark for corporate governance.
Tata Power made it into the ‘Leadership’ category list for the second time, which features 20 companies with the highest scores. Tata Power received this award during an online event held yesterday.
Speaking on the achievement, Dr. Praveer Sinha, CEO & MD, Tata Power, " I'd like to express my gratitude to the IiAS and the distinguished Jury for this prestigious award. Tata Power is dedicated to upholding the highest standards of corporate governance and believes that a strong focus on environmental, social, and governance (ESG) aspects creates long-term benefit for all stakeholders."
The report suggests that despite the corona virus crisis, corporate India has kept a steady focus on improving its governance practices, primarily due to better disclosures and enhanced stewardship practices.
The Scorecard provides an assessment framework which evaluates the corporate governance practices adopted by companies listed at BSE – it is independent of regulatory requirements and thus provides a principle-driven rather than a compliance driven outlook to market participants. The Scorecard report is intended to provide market participants including companies, investors, regulators, lenders, internal and external stakeholders including policy makers with key information to help them in their decisions not only regarding capital markets but also for many critical areas for economic development of the country.
The 2020 report focused on the S&P BSE 100 companies which were evaluated independently by IiAS. The 2021 report takes the study forward for the S&P BSE 100 companies – it is heartening to note that governance practices and standards have improved even against the backdrop of the pandemic. This is the sixth year of the Indian Corporate Governance Scorecard.
Tata Power (NSE: TATA POWER; BSE: 500400) is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,171 MW. The Company is India's most progressive green energy brand, with operations across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.
The Company had developed the country’s first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 4.3 GW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 33% of the overall portfolio, the company is a leader in clean energy generation.
It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlink’s 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 1,050 MW Mega Power Project at Jharkhand.
Tata Power is currently serving more than 12 million consumers via its Discoms, under public-private partnership model viz Tata Power Delhi Distribution Ltd. with Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.
With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al.
With its 107 years track record of technology advancements, project execution excellence, world-class safety processes, customer care, and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com
