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Tata Power Targets INR 20,000 Crore Investment in FY25 for Renewable Energy Expansion

Tata Power plans a INR 20,000 crore investment in FY25 for renewable energy expansion, enhancing transmission, and exploring small modular nuclear reactors. With a focus on scaling up capacity and diversifying offerings, it aims to boost market share under initiatives like PM Surya Ghar Yojana, targeting 15 GW capacity by 2030.

July 17, 2024. By EI News Network

With the aim towards renewable energy expansion, Tata Power Co. Ltd has unveiled plans to invest a staggering INR 20,000 crore in the fiscal year 2025, as announced by Chairman N. Chandrasekaran during the company's 105th Annual General Meeting.

This significant allocation underscores Tata Power's ambitious agenda to bolster its renewable energy footprint, enhance transmission and distribution capabilities, and explore pioneering ventures in small modular nuclear reactors.

Chandrasekaran emphasized that this capex initiative follows a robust INR 12,000 crore investment in the previous fiscal year, with a primary focus on accelerating Tata Power's renewable energy portfolio. "A large part of this investment will go towards scaling up our renewable energy capacities, complemented by strategic enhancements in our transmission and distribution businesses," he stated.

Moreover,in addition to traditional renewables, Tata Power eyes expansion into new realms, pending regulatory approvals. The potential entry into small modular nuclear reactors marks a forward-looking initiative, aimed at diversifying its energy offerings.

Additionally, the company aims to capitalize on emerging distribution opportunities across different states, leveraging its extensive consumer base that currently serves 12.5 million customers, with aspirations to reach 50 million.

Positioned as a leader in India's green energy transition, Tata Power aims to cater round-the-clock renewable energy solutions, particularly targeting commercial and industrial sectors. Underlining its commitment to sustainable growth, the company plans to bolster its market share in rooftop solar installations, supported by initiatives like the PM Surya Ghar Yojana.

With these ambitious plans in motion, Tata Power seeks to elevate its renewable energy capacity from the current 9 GW to 15 GW within the next five years, solidifying its stature as a pivotal player in India's energy landscape.

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Tata Power's INR 20,000 crore investment