Tata Power, one of India's largest integrated power companies, has received approval from the Mumbai bench of Hon'ble National Company Law Tribunal (NCLT) vide its order dated 31 March 2022 for the Composite Scheme of Arrangement between Coastal Gujarat Power Limited (CGPL) and Tata Power and their respective shareholders.
CGPL is a wholly-owned subsidiary of Tata Power and operates the 4000 MW UMPP in Mundra, Gujarat.
The Scheme provides for the amalgamation of CGPL with Tata Power and will result in numerous benefits such as streamlining the corporate structure and consolidation of assets and liabilities of CGPL within Tata Power, a more efficient utilization of capital for the enhanced development and growth of the consolidated business in one entity. Further benefits include availing easier financial support, bringing operational efficiencies, and enabling cost savings through legal entity rationalization and consolidation.
CGPL is one of India's most energy efficient thermal plants and uses supercritical technology to generate power.
About Tata Power
Tata Power (NSE: TATA POWER; BSE: 500400) is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,515 MW. The Company is India's most progressive green energy brand, with operations across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.
The Company had developed the country's first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 4.7 GW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 34% of the overall portfolio, the company is a leader in clean energy generation.
It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlink's Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand.
Tata Power is currently serving more than 12 million consumers via its Discoms, under public-private partnership model viz Tata Power Delhi Distribution Ltd. with Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.
With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al.
With its 107 years track record of technology advancements, project execution excellence, world-class safety processes, customer care, and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come.
Contact:
Tel: 6717 1000
Email: BD@tatapower.com
POWER GRID CORPORATION OF INDIA LIMITED 
