Tata Power plans to invest Rs 75,000 crore in renewable energy in next five years – Bharat Times Hindi News

Image Source: File Photo Tata Power plans to invest Rs 75,000 crore in renewable energy over the next five years

Tata to invest in renewable energy: Tata Power plans to invest over Rs 75,000 crore in renewable energy over the next five years and is targeting 30 GW of electricity generation capacity during the same period, of which more than half comes from clean energy sources. Tata Power currently has a generation capacity of 13.5 GW of which 34% is contributed by renewable energy sources.

During the company’s annual general meeting on Thursday, its chairman Natarajan Chandrasekaran said it has “planned capital expenditure of over Rs 75,000 crore in renewable energy over the next 5 years.”

He was responding to a shareholder’s query about the company’s future plans. In his speech, Chandrasekaran said that Tata Power wants to increase its generation capacity from the current 13.5 GW to 30 GW by FY27, with the clean energy portfolio increasing from the current level of 34 per cent to 60 per cent and 80 per cent by 2027 . The percentage is to increase by 2027. percent by 2030.

He also informed shareholders that the company has planned a consolidated capital expenditure of Rs 14,000 crore in FY13, which includes Rs 10,000 crore in renewable energy.

Tata Power added 707 MW of renewable energy capacity in FY22.

Chandrasekaran said the company has a strong EPC order book of Rs 13,000 crore and is also setting up 4 GW of solar cell and module manufacturing capacity in Tamil Nadu with an investment of Rs 3,000 crore.

According to him, the company is equally focused on increasingly consumer-centric and new-age energy solutions – solar rooftops, EV chargers, solar pumps, smart metering and energy management solutions to enable power in the hands of consumers. .

To scale up these green businesses and solutions, the company has entered into a strategic partnership and created a renewable platform, which has received an investment of Rs 4,000 crore from BlackRock Real Assets and Mubadala Investment Company, he added.

He added that the company is equally committed to deliver strong performance in the transmission and distribution business, serving 12 million customers including 9 million customers in Odisha.

Further, he added that in the T&D (Transmission and Distribution) business, the company will further optimize the operations of Odisha Discoms, stabilize new acquisitions in the transmission business and provide unprecedented customer service enabled by digitization.

He also informed that the company is on track to become the ESG (Environmental, Social and Governance) benchmark in the power sector.
In this effort, he said the company has set three key goals of becoming carbon net zero by 2045, 100 percent water neutral by 2030 and zero waste to landfills before 2030.

Read also: Tata Motors, Tata Power jointly inaugurate solar carport in Pune

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