History of Tata Power Comp. Ltd.
1919
- The Comp. was incorporated on 18th September, at Mumbai. The Company generate & supply Electricity. The Tata Hydro-Electric Power System comprises the Tata Hydro-Electric Power Supply Co., Ltd., the Andhra Valley Power Supply Co. Ltd., & the Tata Power Co., Ltd.
1953
- 1,500 Right Equity shares issued at par in prop. 2:5.
1955
- 15,000 partly paid shares fully called up.
1961
- The Comp. together with its two associated companies decided to enter into a partnership arrangement with Ebasco India, Ltd., for the establishment in India of consulting engineering firm by name of `Tata-Ebasco Consulting Engineering Services'.
1967
- 51,536 right equity shares issued at par [prop. 1:10s].
1968
- 1,00,000-9.25% pref. shares offered for public subscription.
1969
- A new Comp. under the name Chemical Terminal Trombay, Ltd., was formed, in participation with other Tata Companies & Elephanta India Private Ltd., with the object to installation of storage tanks on a part of Company ash disposal area at Trombay & the laying of a pipeline connecting the storage tanks with the Mumbai Port Trust pier at Pir Pau.
1971
- The purchase price of assets under the Khopoli Electric Licence, 1933 was determined by mutual agreement to be Rs 21.50 lakhs plus a solatium of 10% as provided in the Licence. A substantial portion of the purchase price was paid to the Comp. by Maharashtra State Electricity Board.
1975
- 1,13,379 bonus shares issued in prop. 1.5.
1980
- The Comp. set up a new manufacturing facility at Bangalore, for commercial production of electronic items designed by its R&D lab.
- Interest on 9.5% `A' pref. shares raised to 11% effective 1.4.1980 and redumption date extended to 1.4.1995. 25,965 pref. shares of dissenting shareholders redeemed.
1981
- 3,50,000 No. of equity shares issued at par to public in June. 20,000 No. of equity shares issued to financial institutions on part conversion of 11% Fifth debentures [1981-88s].
1984
- The Capacity of set No. 1 at Bhira was uprated from 22 MW to 25 MW.
- The Comp. cancelled its 86,970-7.5% non-redeemable preference shares of Rs 100 each with effect from 1st April & allotted to the holders of these preference shares 86,970-15% secured non-convertible debentures of Rs 100 each in the proportion 1:1.
1986
- Forfeiture on 255 equity shares annulled, 4,56,350 No. of equity shares allotted at par to financial institutions upon conversion of loans/debentures.
1987
- A new double circuit 22/110 KV transmission line was constructed in North Mumbai from Borivli to Malad to meet the requirements of Municipal Corporation of Greater Mumbai besides meeting loads in Kandivili, Malad, etc. It was commissioned during 1988-89.
- The transmission & distribution network was also strengthened to maintain reliability of power supply by installation of 2 x 200 MVA, 220/110 KV interconnecting transformers at Trombay, a new 22 KV indoor switchgear at Saki, new capacitor banks at Saki & Kalyan etc.
- The Company proposals of 220/110 KV switching station & new 110 KV receiving station at Grant Road were cleared by State & Central Governments. The Comp. undertook to install a 180 MW combined cycle plant at Trombay using gas turbines.
1988
- A generator stator weighing 260 tonnes supplied by KWU W. Germany was lifted into position along with the boiler drum from BHEL, Trichy. A 110 KV oil filled cables for bulk transmission of power from Carnac to Backbay was laid to feed BEST receiving station.
- The Comp. in participation with Tata Projects Ltd., undertook to construct a 600 bed Grade i hotel at Tashkant [USSRs].
1989
- It was proposed to upgrade the transmission lines from Bhira to Dharavi from 110 KV to 220 KV. It was commissioned by March 1995.
- Six new outlets for BEST at 33 KV from Carnac receiving stations were also commissioned during the year.
- Approval from the state & the Central Governments were also received for installation of gas based 180 MW combined cycle plant at Trombay at a cost of Rs 212 crores to supplement the generating capacity in the state.
- The Companies are also associated with Siemens in the erection and commissioning of mechanical & electrical equipment for 4 x 130 MW gas turbines & 2 x 150 MW steam turbines at NTPC combined cycle power plant at Dadri in Uttar Pradesh.
- 5,875 forfeited equity shares reissued. [Prem. Rs 200s].
1990
- The Thermal Unit was shut down for 9 weeks for boiler re-certification & overhaul & reblading of four stages of the stationary side of IP turbine.
- The second 500 MW unit 6 at Trombay was trial synchronised with the grid on 23rd March.
- The Comp. took up two major generation projects, viz., 150MW Pumped Storage Unit at Bhira & a gas-based 180 MW Combined Cycle Plant at Trombay Thermal Power Station in case of major system disturbance and supply power to essential consumers, viz., Railways, BMC, BARC, etc.
- The Comp. also proposed to undertake overhauling & maintenance works on gas turbines at Uran in association with Kraftwerke Union, W. Germany.
- As per the agreement signed in October, the Comp. was to seek clearance for World Bank/IFC loan amounting $ 158 million by 30th September, 1991.
1991
- The generation at the Trombay thermal station suffered due to shortage of fuel particularly during the months October to December.
- With a view to upgrade & extend the life of plants, the Company proposed retrofitting of 150 MW Trombay Unit-4 to ensure efficient operation & utilisation of generators of Units 1, 2, & 3 as electrically driven synchronous condensors for power factor improvement.
- A new 110 KV substation comprising 2 x 90 MVA, 110/33 KV power transformers along with 33 KV indoor SF6 switchgear & supervisory control & data acquisition system was commissioned at Versova.
- A new switching station comprising 3 x 250 MVA, 220/110/33 KV autotransformers, space saving 245 KV gas insulated switchgear and supervisory control & data acquisition system was established.
- The Comp. undertook the projects like: [is] Erection of fourth gas turbine unit at Dadri near Delhi [iis] KWU/Siemens awarded to the companies, [iiis] Undertook eletrical & i and C equipment installation works.
1992
- A modern 22 KV indoor SF6 switchgear was installed at Salsette and also a 60 MVAR new capacitor banks were installed at Versova & Malad. Apart from these, replacement of 110 KV oil circuit breakers by modern SF6 breakers at Kalyan, Ambernath, Vikhroli & Salsette receiving stations & extension of fibre optic communication network were also carried out.
- During April-May, the Comp. offered 20,51,555-14% secured redeemable partly convertible debentures of Rs 500 each on rights basis in the proportion 1 deb.: 1 equity shares held [all were taken ups]. Additional 3,07,733 debentures were allotted to retain oversubscription.
- Another 1,02,578 debentures were issued to the employees on an equitable basis [all were taken ups]. Additional 15,387 debentures were allotted to retain oversubscription.
- In addition 3,50,000 debentures were reserved for allotment to Tata Sons Ltd., Tata Industries Ltd., Investment Corporation of India Ltd., and Ewart Investments Ltd.
- Part-A of Rs 300 of face value of each debenture was to be converted into one equity share of Rs 100 each at a premium of Rs 200 per share.
- Part-B of Rs 200 of face value of each debentures was to be redeemed on the expiry of 10 years from the date of allotment with an option to the Board to redeem the same at any time after 7 years from the date of allotment of debentures.
- 28,27,253 No. of equity shares allotted on part conversion of 14% debs. [including 3,084 shares allotted after 1st April, 1993s].
1993
- The Comp. proposed to install 2 x 1.25 MW mini hydro generating units on the existing Bhivpuri tailrace channel by utilising available tailrace releases from existing power station.
- It was proposed to establish a 110 KV sub-station at Bandra-Kurla complex to meet power requirement of that area & also to establish a 110 KV power supply point at Mankhurd to meet additional load requirement of Central Railway.
- The first 120 MW steam turbine at Uran was synchronized & the second unit was scheduled for synchronization in August 1994.
- 48,76,443 Rights equity shares allotted [Prem. Rs 300; Prop. 1:1s]. Another 5,28,165 shares alloted as per GDR issue. 58,345 shares of right issue kept in abeyance.
1994
- The Trombay Unit-7 steam turbine generator was synchronised on 9th December, which generated 650 MUS with PLF of 61.9%.
- It was proposed to establish a 110 KV substation at Bandra-Kurala complex to meet the power requirement in S. Mumbai.
- During the year, the Comp. undertook the work of strengthening dams as per designs codes in respect of earthquakes. The Government of Maharashtra had accorded its permission for rebuilding a dam at Somwadi.
- The set No. 5 at Bhira was rehabilitated by changing the core and coils and was recommissioned along with a new more efficient 30 MVA generator transformer.
- At Vikhroli, an additional 90 MVA, 110/22 KV power transformer was taken into service to increase the reliability of power supply. Also, a new 25 MVA, 110/66 KV transformer at Parel was commissioned.
- A MOU was signed between TEC & the Tennesse Valley Authority of USA for renovation & modernisation of power plants.
- The Second phase of Trombay combined cycle power project viz. 60 MW steam turbine & associated equipment was commissioned. Work for commissioning of unit as pumped storage generation unit was commissioned.
- During February, the Comp. issued 91,549 Global Depository Shares representing 5 ordinary shares of Tata Power Co. Ltd., three ordinary shares of Andhra Valley Power Supply Co. limited & two ordinary shares of the Tata Hydro Electric Power Supply Co. limited Accordingly 5,28,165 shares, 3,16,899 shares & 2,11,266 shares were allotted to Tata Power Co. Ltd., Andhra Valley Power Supply Co. limited & Tata Hydro Electric Power Supply Co. limited respectively.
- Equity shares subdivided. 77,70,000 No. of equity shares allotted on private placement basis to associate companies.
1995
- The 150 MW Pumped storage unit was commissioned in the synchronous condenser mode. The Comp. undertook the work of modernisation and renovation of old 12 MW hydro units at Bhivpuri & Khopoli Generating Stations.
- The old core laminations of Bhira Generator No. 2 & Khopoli generator No.2 were replaced by new low loss laminations to reduce core business.
- The Comp. provided services to Tata Projects Ltd., for erection and commissioning of ten new 33 KV sub-station & modification of fifteen existing 33 KV sub-stations in Abu Dhabi & Al Ain area.
- 1400 shares kept in abeyance issued.
- 56,79,588 No. of equity shares allotted at a prem. as fully paid pursuant to a contract without payment by reserved in case.
1996
- The 150 MW pumped storage unit at Bhira was commissioned. At Bhira generating station five 25 MW units were refurbished by installation of new modern turbine runners of higher efficiency.
- The Comp. strengthened the existing network by installing new 22KV indoor switchgear at Vikhroli sub-station, by replacing old oil/air blast circuit brackers by modern 110 KV breakers at various sub-stations, by retrofitting & uprating of existing 22 KV ABCBs by 22/33 KV modern SF6 breakers, by installation of new numerical type relays on transmission lines & by installation of new micro processor based metering system by replacing existing electro-mechanical type meters.
- The Comp. installed a major 220 KV underground transmission system from Dharavi receiving station to Backbay, South Mumbai. The Company also undertook to implement a 22 KV receiving station at Bandra-Kurla Complex to provide power supply to various commercial consumers in the area. To improve the continuous & reliable power supply, the Company proposed to set up 220 KV switching stations at Parel & Mahalaxmi.
- During the year, the Government of Karanataka awarded the Multi-fuel based 80 MW power project to the Company.
- 3.62.5 MW thermal generating units at Trombay were converted into synchronous condensers with a 1.2 MW static frequency converter in the starting system. Also a 36 KV switchgear with vacuum circuit breakers were commissioned thereby introducing vacuum breaker technology in medium voltage distribution TEC system.
1997
- The thermal Units at Trombay operated at an on-line availability of about 74% & utilization of about 64.3%.
- In order to improve the efficiency at Bhivpuri Generating Station 6x12 MW hydro units were replaced by 3x24 MW units.
- The Tata Group is all set to activate a multi-pronged book entry operation which will atonce secure a higher stake for Tisco in Tata Power even while improving the former cash flows.
1998
- The companies are at various stages of their project proposals to set up captive power units would increase the companies generation capacity by approximately 500 MW.
- The Comp. entered into an Joint Venture Agreement with Total Gas and Power India [a wholly owned subsidiayr of Totals] for establishment of an LNG Terminal at Trombay.
1999
- CRISIL & ICRA have both awarded the highest rating AAA & LAAA respectively for Debentures upto Rs. 500 crores.
- Trombay Thermal achieved a thermal generation of 7670 Million Units [MUss] in the year 1998-99 as compared to 7593 MUs in the previous year.
- The Companies have acquired a generating station consisting of 37.5 MW Unit at Wadi, Karnataka, in January.
- The Comp. has undertaken to give a sharper focus to growth and enhancement of shareholder value.
- The Companies have already set up the requisite facilities for dematerialisation of shares, in accordance with the provisions of the Depositories Act, 1996, & several members particularly institutional investors, have availed of these facilities to hold & trade in the shares in electronic form.
- The Power Purchase Agreement for 81.3 MW Diesel-based Power Plant at Belgaum, Karnataka was signed with Karnataka Electricity Board.
2000
- The Tata group is set to merge the three Tata Electric Companies - Tata Power, Andhra Valley Power Supply Company, & Tata Hydro-Electric Power Supply.
- Reliance Infocom, BSES TeleCom, Tata Power Comp. limited & Internet services provider Caltiger are gearing up to offer internet telephony services, the moment the government makes it legal.
- Tata Power Ltd is in talks to acquire as many as four independent power projects most of which are owned by international power majors, in Madhyra Pradesh, Karnataka & Tamil Nadu.
- Tata Power Comp. has obtained `A' licence as Internet service provider which enables it to operate throughout the country.
- Mr. A.M. Sahni has been appointed as Wholetime Director of the company with effect from November 27.
2001
- The Comp. which is fast emerging as a key Comp. in the Tata group, may hive off its telecommunications business into a separate company.
- Tata Power Comp. Ltd on September 3rd, decided to sell its stake consisting of 45 lakh shares in Tata Liebert Ltd [TLLs], at Rs 170 per share, to Emerson Electric [Mauritiuss] Ltd.
- The Tata Group has steadily hiked its holding in Tata Power to 32.36 per cent as on September 30, from 31 per cent on April 1 & less than 25 per cent on April 1, 2000, when group companies Andhra Valley and Tata Hydro were merged into Tata Power.
2002
-Signs an agreement with Power Grid Corporation of India limited for 'Tala Transmission Line'
-Tata Group declared the successful bidder in the disinvestment process initiated by Govt. of India in VSNL
-120 MW Unit 3 at the Jojobera Power Plant of Comp. at Jamshedpur commences commercial production
-Tata Power acquires North North-West Delhi Distribution Co. limited [Discom-IIIs], a distribution Comp. belonging to the Delhi Vidyut Board [DVBs], which supplies power to north & north-western Delhi
-Delhi government signs share-holding agreement with Tata Power for power distribution in the captal
-Bags Good Corporate Citizen award by Bombay Chamber of Commerce for year 2001-02
-Mr. Firdose A Vandrevala appointed as Managing Director of company
-BSES files suit against Tata Power Comp. with Maharashtra Electricity Regulatory Commission, saying that it is poaching on its consumer base in violation of its terms of license
2003
-Signs subscription agreement with Power Trading Corporation of India limited to acquire upto 1,00,00,000 equity shares of Rs 10 each aggregating to Rs 100 million in one or more tranches
-Submits its expression of interest [EoIs] to participate in Tata Sons' share buyback programme
-Ties up with the UK-based energy major British Petroleum to jointly estimate the 2,184 mw Dabhol power project
-Managing Director Mr. Firdose A Vandrevala elected as chairman of Confederation of Indian Industry [CIIs] western region
-Awarded the contract for supply & construction of 180 KM long 400 KV Double Circuit Transmission Line from Palandur to Chandrapur [Maharashtras] By Power Grid Corporation of India Ltd.
-Enforces integrated automated system module developed by SAP
-Power Grid Corporation of India Ltd [PGCILs] enters into a joint venture with Tata Power to develop a 1,200 km long transmission line
-Maharashtra Electricity Regulatory Commission [MERCs] ropes in Tata Power Comp. [TPCs] for formulation of draft rules & regulations stipulated under the newly notified Electricity Act 2003
-Enters into Shareholders Agreement with Power Grid Corporation of India limited & Tala-Delhi Transmission limited for implementation of 400 KV Tala Transmission Line Project
-Supreme Court in an important ruling seeks Tata Power Comp. [TPCs] to pay around 20% towards arrears of standby charges of Rs 4110-cr during the period of April 1999 & June 2003
-Tata Power infuses Rs 352 crore in the group telecom businesses, Rs 25 crore & Rs 115 crore in Tata Teleservices, the group basic telephony flagship, & in Tata Teleservices [Maharashtras], respectively
-Approaches Bombay High Court against an order issued by Maharashtra Electricity Regulatory Commission [MERCs], which restricts the Comp. to provide power to retail consumers
-Members approve delisting from 3 stock exchanges [Delhi, Pune and Ahmedabads]
-Bags $8.9 million order brom Bangladesh power grid project
-Power Grid Corporation of India Ltd awards contract for supply & construction of 400 kV Vishnuprayag -Muzaffarnagar Double Circuit Transmission line totalling 100 route KM in the state of Uttaranchal
-Jointly develop the 330 MW Srinagar Hydro Power Project in Uttaranchal with Synergies Hydro Asia [SHAs], at an estimated cost of Rs 16500 million
-Maharashtra Govt. took back its nominee from the Comp. board
-Started construction of its merchant power plant under the new `Electricity Act 2003', at Jojobera in Jharkhand.
2003 -The Comp. entered into a Joint Venture Agreement with Power Grid Corporation of India limited to set up a 1200 km power transmission line from Siliguri in West Bengal to Mandola in Uttar Pradesh.
In addition to the 330 MW Shrinagar project & 120 MW project at Jojobera, the Comp. also has plans to set up new power projects.
-Company has appointed Mr A J Engineer as the Additional Director of Comp. wef November 19, 2003.
-TPC has tendered an unconditional apology to Maharashtra Electricity Regulatory Commission [MERCs] for supplying power below 1,000 kVa to an industrial estate from the Mumbai suburbs.
-Duncans North Hydro Power becomes a fully owned subsidiary of Tata Power
-Tata Power buys out 100-pc stake in Duncans North Hydro Power Company
-Tata Power Comp. Ltd has informed that the Ahmedabad Stock Exchange [ASEs] has informed the Comp. that wef January 15, 2004 the companies securities will stand delisted from ASE.
2003
-Tata Power Co, Reliance Energy Ltd poised to acquire Dhabol
2004
-Tata Power acquires 100% equity stake of Tata Power Trading Co. Pvt. Ltd.
-Tata Power Comp. has floated a wholly owned subsidiary for power trading business & applied to the Central Electricity Regulatory Commission [CERCs] for a countrywide trading licence. Christened Tata Power Trading Company, the subsidiary has been incorporated with a paid up capital of around Rs 2 crore.
-Unveils special purpose vehicle [SPVs] under the name of Tata Power Trading Comp. Private Limited [TPTCPLs] for undertaking inter-state trading of power in the country
-Tata Power Comp. Ltd has on April 5, 2004 signed a Development Agreement with GAIL India Ltd and BP to jointly participate in evaluating the Dabhol gas & power opportunity.
-Tata Power Co. limited has nominated Mr. Sanjay Bhatia as the State Government Director on the Board of Comp. in place of Mr. Jayant S Kawale
-The Union Government on May 20, 2004, cleared Tata Power Company trading licence
-Tata Power Comp. MOU with National Power Comp. of Al-Zamil Group, Kingdom of Saudi Arabia
-Tata Power Trading Comp. Ltd [TPTCLs], a wholly owned subsidiary of Tata Power Comp. [TPCs], has been awarded the first ever power trading licence by Central Electricity Regulatory Commission [CERCs]
2005
-Tata Power signs generation pact with DVC on Maithon Project
-Tata Power enters into an agreement for sale of shares in Tata Power Broadband
2006
-Tata Power joins hands with Siemens
-Tata Power Comp. Ltd has informed that, the State Government has nominated Mr Jayant S Kawale as the State Government Director on the Board of Comp. in place of Mr Sanjay S Bhatia. At its meeting held on November 27, 2006, the Board of Directors of Comp. appointed Mr Kawale as the Nominee Director with immediate effect.
2007
-Tata Power Comp. Ltd on January 24, 2007 has announced that the Comp. has signed a MoU with the Government of Chhattisgarh for setting up of 1000 MW coal fired mega power plant in the State.
- Tata Power Comp. Ltd has appointed Mr. Anil K Sardana as Executive Director of Comp. with effect from March 01, 2007.
-Tata Power Comp. Ltd has informed that the State Government has nominated Mr. Rahul Asthana as the State Government Director on the Board of Comp. in place of Mr. Jayant S Kawale. Mr. Asthana has been appointed as the State Government Director effective March 30, 2007.
-Tata Power Comp. Ltd on has announced the acquisition of Coastal Gujarat Power Ltd, a Special Purpose Vehicle [SPVs] formed for Mundra Ultra Mega Power Project [UMPPs]. A formal execution of documents took place between Power Finance Corporation [PFCs] & Tata Power, under the auspices of Ministry of Power, Delhi.
- Tata Power has roped in Korea-based Doosan Heavy Industries & Construction Ltd for supercritical boilers for its Mundra ultra mega power project.
-Tata Power Comp. Ltd has appointed Mr. Anil Kumar Sardana as an Additional Director of Comp. effective August 09, 2007.
2008
-Tata Power Comp. Ltd has appointed Dr. R H Patil & Mr. P G Mankad as Additional Directors of Comp. with effect from July 03, 2008.
2009
- Tata Power Comp. Ltd has informed regarding a Press Release dated January 12, 2009 titled Tata Power signs an MOU with Government of Gujarat to explore setting up of 5 MW each of Geothermal & solar power plants.
- Tata Power Comp. Ltd has appointed Mr. A K Basu as an Additional Director of Comp. effective March 26, 2009.
