POWER

Tata Power buzzing: Demand set to increase, says CEO Praveer Sinha

The Tata Power stock has been buzzing with big changes underway like distribution overtaking generation as the company’s biggest business and solar power emerging as a new growth avenue. Praveer Sinha, MD and CEO of Tata Power discussed the power gameplan.

In terms of demand, he expects to see huge traction in the coming months. “I think the demand has picked up a lot. We never used to see the demand for something like 180 gigawatts in the winter months. This time in the month of January we had something like 184-185 gigawatt, which is very strange. It demonstrates a huge industrial demand. Come summer, we definitely expect that the overall demand will go up. We will definitely see huge traction in the demand in coming months,” he said.

“I think the big change that we are seeing as announced by the Union Finance Minister Nirmala Sitharaman in her budget that the whole distribution business is getting de-licensed. That means you can have multiple supply companies who can supply electricity in any part of the country and you don’t need a license,” he stated.

“On distribution, we have got all the four distribution companies (DISCOMs) in Odisha and we have already taken over three of them and the fourth one we will do from April 1. That is a big boost to us,” he said.

“The bidding has happened for the two of the union territories. First was the Daman and Diu and second, was Chandigarh. Daman bids have been opened and the Chandigarh bid is expected to be opened in the next two-three weeks.

Source
CNBC
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