(FE)
Like some of its global peers such as US-based Duke Energy or Italian multinational Enel, power producer and distributor Tata Power is looking to morph from a pure-play utility into a customer-focused business.
CEO & MD Praveer Sinha expects renewables and the customer-oriented business — distribution, rooftop solar, micro-grid and solar pumps, home automation and EV charging — to contribute about half the company’s revenues in the next five years. Tata Power’s revenues of close to `30,000 crore in 2018-19 came equally from generation, T&D and renewables.
It’s an asset-light B2C strategy focused on solutions and one that can throw up cash. If it works out, it could help reduce Tata Power’s huge debt burden of `48,506.04 crore as on March 31. “It is in line with the change and the disruption taking place globally as countries move from generation plants and transmission systems to distributed and decentralised generation,” Sinha said.“Consumers are becoming ‘prosumers’ or those who produce energy, consume a part of it and also give a part to the grid,” he said.
