Tata Power has plans to invest Rs 20,000 crore for renewable energy.
The investment spans the company’s objectives to advance sustainability, spur clean energy growth, and support India’s RE targets.
N. Chandrasekaran, Chairman, Tower Power during the 105th annual general meeting, said, “Tata Power plans to invest ₹20,000 crore capex in FY25. This is over and above the ₹12,000 crore invested in FY24. A large part of this will be towards accelerating the company’s renewable energy portfolio and balance towards transmission and distribution businesses.”
As soon as the government grants the required authorizations, the business will also explore prospects in small modular nuclear reactors, he said.
The green energy transition:
According to him, the Tata Group company is well-positioned to spearhead India’s transition to green energy, with an emphasis on offering 24/7 renewable energy, particularly to commercial and industrial (C&I) consumers.
Under the PM Surya Ghar Yojana, the company also hopes to grow its market share in the rooftop solar industry and expand its portfolio of RE sources from 9 GW to 15 GW in five years.