Mumbai: Tata Power, India’s largest integrated power utility, and city gas distribution company Mahanagar Gas Limited (MGL), have signed a Memorandum of Understanding (MoU) to foray into emerging e-mobility business, explore synergies of operation in integrated customer services and other value-added services of common interests, Tata Power said today.
The MoU was signed by Sanjib Datta, Managing Director, MGL, and Praveer Sinha, CEO & Managing Director of Tata Power, in Mumbai.
The MoU facilitates both the companies to explore possibilities of co-operation in common utility revenue cycle management and customer management solutions, IT solutions, data analytics, geographical information system (GIS); common safeguard activities for underground assets, solar rooftop initiatives and setting up of commercial-scale charging and/or battery swapping stations for electric vehicles, with the allied power management solutions.
Praveer Sinha of Tata Power said, “This is yet another significant move by Tata Power to offer a wide range of services to the Indian energy consumers."
Tata Power together with its subsidiaries and jointly controlled entities has an installed capacity of 10957 MW. It has a presence across the entire power value chain: generation of renewable as well as conventional power including hydro and thermal energy; transmission and distribution, trading and coal and freight logistics. Its renewable energy assets in solar and wind account for 23% of the company's portfolio.
Sanjib Datta of MGL, said, "We are exploring business opportunities beyond gas. This strategic alliance with Tata Power will provide us an opportunity to explore joint synergies and foray into emerging e-mobility business in the Indian mobility space, where we are already a significant player by supplying CNG for various vehicle segments."
MGL is currently the sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas and in the Raigad district in Maharashtra, India.
MGL is an enterprise of Gail (India) Ltd, Government of Maharashtra and BG Asia Pacific Holdings Pte. Limited.
Currently, MGL reaches out to more than 11.5 lakh households and above 3800 small commercial and industrial establishments. It also supplies CNG to nearly 7 lakh vehicles which include more than 3 lakh rickshaws and above 60,000 taxis and about 3 lakh cars in Mumbai, Thane, Mira-Bhayander, Navi Mumbai and beyond.