Tata Power Company, the country’s largest private power utility, is one of the two companies shortlisted by the Indonesian government to develop a 200-megawatt geothermal capacity that would need an investment of around `3,000 crore. The Tata Group company, in consortium with Indonesia’s PT Supraco Energy and Australian electricity and gas retailer Origin Energy, was among the eight global bidders to bid for the project in Sumatra. The race for the clean energy project also saw global energy majors Chevron and PT Medco Energi Internasional putting in bids.
“We would not like to talk much about the project as it hasn’t yet been finalised,” executive director S Padmanabhan told,adding that the decision to decide on the final bidder could be made “anytime”. The identity of the other shortlisted bidder was not clear. Tata Power has floated a separate company in Singapore, called OTP Geothermal, for handling all geo-thermal projects in the region. Indonesia, the world’s largest archipelago that has about thirteen-thousand islands with hundreds of active and extinct volcanoes has the potential to produce an estimated 27,000 mw of electricity from geothermal sources, mainly due to its geographical position in the Pacific Ring of Fire.
The term geothermal refers to the tapping of the heat generated due to volcanic activities below the earth.Tata Power, that has interests in power generation, distribution and trading, is also scouting for other big overseas opportunities in the non-conventional energy space, especially in the areas of geothermal, wind and solar energy. “We are exploring opportunities in non-coal-based assets such as gas-fired projects apart from non-conventional energy projects in countries such as Indonesia and Australia,” said executive director finance S Ramakrishnan.
“Tata Power will explore opportunities in the geothermal space in countries like Indonesia and Australia mainly through the parent company, while operations will be looked after by a subsidiary or a special purpose vehicle,” he said.
Tata Power is also ramping up its local operations in the areas of non-conventional energy. It plans to scale up wind capacity to 500mw from the current 200mw, and will develop solar capacity of about 50mw and an India-based geothermal capacity of 5mw by the end of 2011.
Tata Power has targeted raising its total local generation capacity, both conventional and non-conventional to 8,300mw by FY12, from the current capacity of 3,000mw. “The capital expenditure plan for FY11 and FY12 has been set at `6,700 crore that partly includes our investment in forthcoming projects like Mundra UMPP and a power plant in Maithon,” said Mr Ramakrishnan.
The company plans to invest over ` 23,600 crore for power generation and electricity distribution. It has already raised over `16,000 crore as debt for the 4,000-mw Mundra UMPP and 1,050-mw Maithon project and also raised about `1,800 crore through global depository receipts.
“We would not like to talk much about the project as it hasn’t yet been finalised,” executive director S Padmanabhan told,adding that the decision to decide on the final bidder could be made “anytime”. The identity of the other shortlisted bidder was not clear. Tata Power has floated a separate company in Singapore, called OTP Geothermal, for handling all geo-thermal projects in the region. Indonesia, the world’s largest archipelago that has about thirteen-thousand islands with hundreds of active and extinct volcanoes has the potential to produce an estimated 27,000 mw of electricity from geothermal sources, mainly due to its geographical position in the Pacific Ring of Fire.
The term geothermal refers to the tapping of the heat generated due to volcanic activities below the earth.Tata Power, that has interests in power generation, distribution and trading, is also scouting for other big overseas opportunities in the non-conventional energy space, especially in the areas of geothermal, wind and solar energy. “We are exploring opportunities in non-coal-based assets such as gas-fired projects apart from non-conventional energy projects in countries such as Indonesia and Australia,” said executive director finance S Ramakrishnan.
“Tata Power will explore opportunities in the geothermal space in countries like Indonesia and Australia mainly through the parent company, while operations will be looked after by a subsidiary or a special purpose vehicle,” he said.
Tata Power is also ramping up its local operations in the areas of non-conventional energy. It plans to scale up wind capacity to 500mw from the current 200mw, and will develop solar capacity of about 50mw and an India-based geothermal capacity of 5mw by the end of 2011.
Tata Power has targeted raising its total local generation capacity, both conventional and non-conventional to 8,300mw by FY12, from the current capacity of 3,000mw. “The capital expenditure plan for FY11 and FY12 has been set at `6,700 crore that partly includes our investment in forthcoming projects like Mundra UMPP and a power plant in Maithon,” said Mr Ramakrishnan.
The company plans to invest over ` 23,600 crore for power generation and electricity distribution. It has already raised over `16,000 crore as debt for the 4,000-mw Mundra UMPP and 1,050-mw Maithon project and also raised about `1,800 crore through global depository receipts.
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