Tata Power, which won the Distribution Franchisee of Jamshedpur, will invest Rs 500 crore in the Jamshedpur circle. The company also plans to take over distribution operations in Jamshedpur circle by mid 2013 once the independent audit is completed and the area is handed over by Jharkhand State Electricity Board (JSEB) to Tata Power, according to Mr S Ramakrishnan, executive director (ED) of Tata Power.
He added that teams have already arrived in Jamshedpur and work on IT infrastructure has commenced. Recruitment across different levels is also in the process.
Asked about new developments on the Jharkhand front he said: "The SPC (Special Purpose Company), TP Power Distribution Limited will be responsible for operating and maintaining the distribution network in the Jamshedpur circle, which includes Jamshedpur, Adityapur, Ghatsila and Baharagora areas. TP Power Distribution Limited will also be managing the billing and collections."
About its 4,000 MW power project in Mundra (Gujarat), Mr Ramakrishnan said: "Tata Power Mundra UMPP is India's first 4,000 MW thermal power plant using supercritical technology." He added that the total generation from the plant till 31 March 2013 has touched 12,440 MU's and the plant is expected to contribute more than 26,000 million kWh annually to the beneficiary states ~ Gujarat, Rajasthan, Haryana, Punjab and Maharashtra. The Mundra project also heralds the entry of 800 MW supercritical boiler technology in India, which is environment friendly and fuel efficient.
Internationally, Tata Power has prioritised four key regions. These include African region, South-East Asian region, West Asian region and Saarc region.
Asked about asset identification in the USA, Canada or Colombia, the ED said: "Tata Power is seeking coal assets in the USA, Canada and Colombia as prices of the fuel dropped amid surging shale gas supplies in North America." However, he declined to comment on acquisition of mines in South Africa and said: "We have been on record to say that we are looking at various opportunities globally to create shareholder value, but no decision has been taken as yet."