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Tata Hydro-Electric Power Supply Company Limited
Sector:Power Power - Generation and Supply
Market Lot: 1Face Value: 10ISIN Demat: INE246A01011
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Business Profile
Tata Hydro Electric Power Supply Company Ltd , Andhra Valley Power Supply Company Ltd and Tata Power Company Ltd, all licensees as per the Electricity Supply Act, are jointly managed as Tata Electric Companies (TEC) and share generation facilities in the ratio of 2:3:5. With a mix of thermal and hydro power generation, TEC supplies to the highly industrialised area in and around Mumbai. TEC has a total generating capacity of 1778 MW as a licensee, consisting of 1330 MW thermal and 498 MW hydro, with average annual sales of 10,000 mn units. Shortfall in generation is met through purchases from MSEB. TECīs consumers include two bulk distribution licensees, viz. BSES & BEST, and high-tension consumers.

Recent Developments
TEC generated 9.311 bn units in FY99 with thermal units in Mumbai operating with an overall plant availability of 84%, as compared with 64% in the previous year. The 67.5-MW unit at Jojobera in Bihar operated at a plant availability of 88% during the year. In FY99, TEC revenues suffered a slight drop though profits edged up by around 3%, because of a slowdown in industrial activities in Maharashtra and less power bought by BSES. The 150-MW pumped storage unit at Bhira has enhanced the peaking capacity, and generated an additional 60 mn units in FY99. During the year, the company issued debentures aggregating to Rs 1.5 bn on a private placement basis.

The Centre has revised the rate of return (ROR) formula for licensee power companies and fixed it at 16% flat rather than the earlier Bank Rate plus 5%. The revised formula will be effective for all projects commencing after April 1, 1999.

Future Plans
The first unit of the 2 X 120 MW expansion of the 67.5-MW Jojobera plant in Bihar is nearing completion and is expected to be commissioned in December 2000. The second unit is expected to be commissioned a year later. TEC has also bagged a multi fuel based 81.3-MW power project in Belgaum, Karnataka. The power purchase agreement has been signed with the Karnataka Electricity Board (KEB). Renovation of the hydro units at Bhivpuri and Khopoli is also under way. TEC has targeted Rs 48-bn investments in projects by FY02. Work has started on projects valued at Rs 26 bn. TEC plans to expand its presence in Karnataka, Bihar, Madhya Pradesh and Orissa. It has entered into a JV with Total of France for storage and distribution of liquefied natural gas. It is also looking at telecom as an area of opportunity and has invested in Tata Groupīs foray into basic and cellular services. The companies are looking at developing power generating capacities in Gujarat and have pre qualified for a project in Haryana.

TEC is planning a major foray into the telecom sector as part of its diversification strategy. It is currently negotiating with the Maharashtra Government on the possibilities of getting additional distribution areas.
In Brief

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