With the completion of 2.7 GW of capacity in projects that were under construction, Tata Power’s clean and green source-based capacity will be close to 50 per cent of its total installed capacity, according to Natarajan Chandrasekaran, Chairman, Tata Power.

“In line with its renewable focus, your company has added ~500MW capacity, taking the total operational renewable capacity to ~3.9GW. With the completion of under-construction projects of ~2.7 GW, clean and green source-based capacity will be close to 50 per cent of its total installed capacity,” Chandrasekaran said at the company’s AGM.

During the last quarter of fiscal FY23, solar rooftop, along with captive solar EPC projects, crossed Rs 1,000 crore in revenue, doubling from the previous year. In the EV charging market, the company has cumulatively installed about 4,000 public and captive chargers and sold close to 40,000 home chargers.

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“Your company plans to rapidly expand its network by targeting highways, fuel pumps and high-traffic city locations through strategic partnerships, and by leveraging its cloud-based technology platform,” Chandrasekaran said.

To meet growth targets, the company plans to invest about Rs 12,000 crore, which is double the capex spent in FY23. This includes investment in the upcoming 4 GW manufacturing plant, under-construction renewable projects, transmission and distribution businesses in Odisha, Delhi and Mumbai, and new opportunities.

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“The 4 GW cell and module manufacturing plant in Tamil Nadu is well on track, and we expect the module line to be ready by October 2023 and the cell line by the end of the year. Given the company’s successful track record in turning around Discoms, it will look to participate in privatisation opportunities as and when policy reforms are undertaken,” he added.

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