Tata Power , India's largest integrated power company, has marked World EV Day with a significant milestone in sustainable mobility. The company, in collaboration with Tata Passenger Electric Mobility Limited, has launched India's biggest TATA.ev fast charger hub in Mumbai, showcasing its commitment to advancing electric vehicle (EV) infrastructure in the country.

Strategic Location and Impressive Capacity

The new charging facility, strategically located near Terminal 2 of the Chhatrapati Shivaji Maharaj International Airport in the premises of The Leela Mumbai Hotel, boasts impressive capabilities:

• Simultaneous charging for up to 16 electric vehicles
• Eight fast DC chargers with speeds up to 120 kW
• 16 charging bays, making it one of Mumbai's largest and most advanced charging stations
• 24/7 availability for EV users

Green Energy and Accessibility

Highlighting Tata Power's commitment to sustainability, the charging hub operates on 100% green energy. This aligns with the company's 'Sustainable is Attainable' movement, embedding eco-friendly practices into daily life.

The facility caters to a diverse range of EV users, including:

• Private car owners
• Taxis
• Ride-hailing fleets
• Logistics operators

Its prime location also serves business travelers, tourists, and professionals in the Andheri–Bandra Kurla Complex (BKC)–South Mumbai corridor.

Expanding EV Infrastructure

Dr. Praveer Sinha, CEO & Managing Director of Tata Power, emphasized the significance of this launch, stating, "The launch of this fast-charging hub, developed in collaboration with Tata Motors, reflects our integrated approach to driving India's green mobility transition. Strategically located and powered entirely by renewable energy, it sets a benchmark for future-ready EV infrastructure."

Tata Power's EV charging network is already extensive, with:

• Over 5,500 public and captive EV charging points
• More than 1.4 lakh home chargers
• 1,200+ bus charging points
• Presence in 630+ cities and towns across India

TATA.ev MegaCharger Initiative

This charging hub is part of the TATA.ev MegaCharger network, a flagship initiative of Tata Passenger Electric Mobility Ltd. The network offers:

• Open access to all EV users
• Exclusive benefits for TATA.ev customers, including up to 25% discount and priority access
• Seamless accessibility through the Tata Power EZ Charge App

Future Plans

Tata Power has set ambitious goals for expanding its EV charging infrastructure. By 2030, the company aims to scale up to:

• 7.5 lakh home chargers
• 10,000 public charging points

This expansion plan underscores Tata Power's commitment to building a robust and widespread green mobility ecosystem across India.

The launch of this mega EV charging hub not only marks a significant step in India's transition to sustainable mobility but also reinforces Tata Power's position as a leader in the country's EV charging infrastructure development.

In a significant development for the power distribution sector, the Supreme Court of India has issued important directions regarding Regulatory Assets for Tata Power Delhi Distribution Limited (TPDDL), a joint venture between Tata Power and the Government of Delhi. The ruling has far-reaching implications for the company's financial structure and operations.

Key Points of the Supreme Court Judgment

• The Court observed that the Delhi Electricity Regulatory Commission had been creating Regulatory Assets under normal business conditions, which the Court deemed inappropriate.
• According to the judgment, Regulatory Assets should only be created under force majeure or exceptional circumstances, as stipulated in the Electricity Act, 2003.
• TPDDL has been directed to liquidate its outstanding Regulatory Assets within a four-year timeframe.
• The liquidation process is set to commence from April 1, 2024, with an expected completion by March 2028.
• The Delhi State Regulator is required to provide a detailed trajectory and roadmap for the liquidation of these assets.
• The Court has mandated the implementation of appropriate safeguards to ensure the time-bound liquidation of Regulatory Assets.

Impact on TPDDL and Tata Power

TPDDL, which distributes electricity in the North and North-West regions of Delhi under a license from the Delhi Electricity Regulatory Commission, will need to adapt its financial strategies to comply with this ruling. Tata Power disclosed this development in a filing to the stock exchanges, highlighting its significance.

Tata Power stated in its disclosure, "The Company expects time-bound monitoring of Regulatory Asset amortisation through APTEL and other regulatory measures in this regard." This indicates that the process will be closely scrutinized by regulatory bodies.

Broader Implications for the Power Sector

This judgment could have wider implications for the power distribution sector across India. By emphasizing that Regulatory Assets should only be created under exceptional circumstances, the Supreme Court has set a precedent that may influence how other state electricity regulatory commissions approach this financial mechanism.

The ruling underscores the need for power distribution companies to manage their finances more efficiently and reduce reliance on Regulatory Assets as a means of deferring costs or losses.

Next Steps

As the countdown to April 1, 2024, begins, all eyes will be on TPDDL and the Delhi State Regulator. The coming months are likely to see intense activity as the company and the regulator work to develop a viable plan for the liquidation of the Regulatory Assets within the stipulated four-year period.

Stakeholders in the power sector will be keenly watching how this unfolds, as it could potentially set the tone for similar situations across the country. The successful implementation of this directive could lead to more robust financial practices in the power distribution sector, ultimately benefiting consumers and the industry alike.