changeadminIndia’s leading power sector company Tata Power is set to invest approximately US $2.3 billion (Rs. 20,000 cr) towards capital expenditure (capex) in FY25, with a significant chunk going towards renewable energy.
The investment was announced by the company’s Chairman N Chandrasekaran at the company’s 105th Annual General Meeting (AGM). The investment is mainly targeted towards accelerating its renewable energy ambitions and transmission and distribution businesses.
The company aims to increase its renewable energy portfolio to 15 GW in 5 years from the existing 9 GW, both from existing and ongoing projects. In addition, the company is also looking to reach 50 million consumers through distribution business from the present 12.5 million consumers.
In recent weeks, Tata Power has taken a slew of decisions to up its renewable energy game.
In July this year, it signed a MoU with NHPC Renewable Energy to spearhead the installation of rooftop solar projects across government buildings. They aim for complete solarisation of government-owned buildings by December 2025.
In April, Tata Power started commercial operations of its solar module manufacturing plant in Tamil Nadu. The manufacturing factory plans to reach its peak capacity of 4.3 GW in the next six months.
In the EV charging space, the company is aggressively installing charging points across the country.
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