NEW DELHI, July 20: Pushing ahead with its expansion plans, Tata Power is scouting for investment opportunities in select overseas geographies and eyeing assets available for acquisition due to financial stress in power sector.
Further, the power major is looking at opportunities for providing management and technical advisory services in distribution business.
These plans are part of the leading private utility’s strategy to remain as an integrated player across the power value chain, as per Tata Power’s latest annual report for 2013-14.
Throwing light on its long term strategy, Tata Power has said the focus areas would be “scaling up of generation capacity and value added businesses” such as services and trading.
“Due to the current financial stress in the power sector, there are assets which may be available for acquisition. Your company is evaluating and will continue to evaluate opportunities to acquire projects in various stages of development across the country,” the company said.
Tata Power said that such acquisitions would leverage its existing businesses in the power value chain.
At present, Tata Power has an installed generation capacity of more than 8,580 MW.
Besides, the company continues to evaluate investment opportunities in Africa, Turkey, Middle East, South East Asia and the SAARC (South Asian Association for Regional Co-operation) region.
Apart from India, other SAARC members are Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka.
“While Indian market continues to remain the primary focus of business for your company, it has started making investments into projects in select international geographies to strengthen and diversify its portfolio and for greater impetus for growth,” the report said.
Through its subsidiaries, Tata Power is also currently engaged in providing management and technical advisory services to two distribution companies in Nigeria.
Among others, last November Tata Power executed a pact Vietnam government for developing 1,200 MW Long Phu 2 coal- fired project in that country on Build, Own and Transfer basis. (PTI)
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