"Tata Power to Invest ₹20,000 Crore in Renewable Energy and Distribution: N Chandrasekaran".

Tata Power plans to invest ₹20,000 crore in the financial year 2024-25 to accelerate its renewable energy portfolio and expand the transmission and distribution business.

Addressing the 105th Annual General Meeting (AGM) of shareholders, Chairman Natarajan Chandrasekaran announced, “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 directed towards accelerating the company’s renewable energy portfolio, with the remainder allocated to the transmission and distribution businesses.”

Chandrasekaran also mentioned the company’s interest in Small Modular Nuclear Reactors, pending government approvals, and new distribution expansion opportunities in other states as they arise in line with government policies.

Tata Power aims for a 15 GW clean energy portfolio within five years, up from the current 9 GW, which includes both existing and ongoing projects. The company also plans to establish a new 4.3 GW solar cell and module manufacturing plant in Tamil Nadu.

In the electric vehicle charging sector, Tata Power has installed 5,500 public and captive chargers across 530 cities and 86,000 home chargers. The company is also committed to solarizing homes through its ‘Ghar Ghar Solar’ initiative under PM Surya Ghar Yojana, having executed over 2 GW of rooftop projects. Tata Power's order book in this segment stands at ₹2,800 crore.

HBL