Tata Power plans to invest ₹20,000 crore in the financial year 2024-25 to accelerate the company’s renewable energy portfolio and grow the transmission and distribution business.
Addressing the 105th Annual General Meeting (AGM) of shareholders, Chairman Natarajan Chandrasekaran 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.”
“The company will also explore participation in Small Modular Nuclear Reactors, once the Government gives necessary permissions apart from new distribution expansion opportunities in other states, as and when these opportunities arise in line with Government policies,” he added.
Tata Power said it will aim for a 15 GW clean energy portfolio in five years, up from the existing 9 GW, which consists of both existing and ongoing projects. It also plans to set up a new 4.3 GW Solar cell and module manufacturing plant in Tamil Nadu.
In electric vehicle charging, the company has 5,500 public and captive chargers in 530-odd cities and has installed 86,000 home chargers. Tata Power also said it was fully geared to solarize homes through its ‘Ghar Ghar Solar’ initiative under PM Surya Ghar Yojana and has executed 2GW+ rooftop projects so far. The company has an order book of ₹2,800 crore in this segment.