Tata Power plans to accelerate its renewable energy portfolio and expand its Transmission & Distribution businesses.
Jul 26, 2024
Tata Power, one of India’s leading integrated power companies, is planning to invest INR 20,000 crore capex in FY25, to accelerate its renewable energy portfolio and balance towards Transmission and Distribution (T&D) businesses.
This amount will be over and above the INR 12,000 crore invested in FY24, said, Mr. N Chandrasekaran, Chairman, Tata Power.
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Addressing the 105th Annual General Meeting (AGM) of shareholders for the Financial Year 2023-24, Mr. Chandrasekaran said in order to achieve carbon neutrality before 2045, Tata Power was aiming for a 15 GW clean energy portfolio from the existing 9 GW in the next five years, both from existing and ongoing projects.
He added, the company was well-positioned to lead India’s green energy shift with focus on providing round-the-clock renewable energy, especially to commercial and industrial consumers.
Tata Power was also aiming for growth and increased share in the rooftop solar market through its ‘Ghar Ghar Solar’ initiative under the PM Surya Ghar Yojana. The company has so far executed more than 2 GW rooftop projects and has an order book of INR 2,800 crore. It has also set up a new 4.3 GW solar cell and module manufacturing plant in Tamil Nadu.
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The company would further explore participation in small modular nuclear reactors, apart from new distribution expansion opportunities in other states. The company targeted to reach 50 million consumers through distribution business expansion, from the present 12.5 million consumers.
Tata Power has a diversified portfolio of 14,453 MW, spanning across the entire power value chain from renewable and conventional energy generation to transmission & distribution, trading, storage solutions and solar cells and module manufacturing. The company has 5,593 MW of clean energy generation, which constitutes 39 percent of its total capacity.
