Abu Dhabi National Energy Company (TAQA) has begun selling electricity from its hydro-power project in northern India, reported Reuters.
This will provide the company with another revenue stream after its profits were hit by low oil prices, suffering a net loss of $114.7m in the second quarter.
The 100 megawatt Sorang hydro-power project started selling power to northern India from October 31, TAQA said in a statement, adding that the facility can supply emissions-free electricity to 500,000 homes at full capacity.
“We are keen to participate in meeting India’s growing energy needs through the completion of this project, which provides cost-efficient power and helps develop renewable energy sources,” Saeed Mubarak al-Hajeri, chairman of TAQA, said in the statement.
According to Trade Arabia TAQA holds a minority stake in Himachal Sorang Power Private Limited, the developer of the Sorang hydro-power project in the northern Indian state of Himachal Pradesh.
Previously, TAQA had announced that its T2 power plant in Ghana and its Bergermeer gas storage facility in the Netherlands had begun commercial operations.
TAQA’s India operations also include a 250 MW lignite power station in the Neyveli region of southern India.