The Business Bytes
MUMBAI, JULY 16, 2024 (TBB BUREAU): Tata Power, a leading integrated power company in India, is set to invest Rs 20,000 crore in capital expenditure (capex) for the fiscal year 2025, announced Chairman Natarajan Chandrasekaran on Tuesday. This significant investment aims to advance the company’s renewable energy portfolio and enhance its transmission and distribution operations, as stated during the company’s 105th Annual General Meeting (AGM).
“This Rs 20,000 crore capex for FY25 is in addition to the Rs 12,000 crore invested in FY24,” Chandrasekaran explained. “A major portion of this investment will be dedicated to accelerating our renewable energy initiatives, with the remainder allocated to our transmission and distribution sectors.”
Additionally, Tata Power is exploring opportunities in small modular nuclear reactors, pending government approvals, and is considering expanding its distribution operations to other states.
The company has set ambitious goals, including expanding its clean energy portfolio to 15 GW within five years, up from the current 9 GW, by leveraging both existing and new projects. Moreover, Tata Power aims to increase its distribution reach to 50 million consumers, up from the current 12.5 million.
In Tamil Nadu, Tata Power is establishing a 4.3 GW solar cell and module manufacturing plant. The company is also making strides in the electric vehicle (EV) charging sector, with 5,500 public and captive chargers across over 530 cities, and more than 86,000 home chargers installed.
Under the ‘Ghar Ghar Solar’ initiative, part of the PM Surya Ghar Yojana, Tata Power has already implemented over 2 GW of rooftop solar projects and holds an order book worth Rs 2,800 crore.
The Board of Directors has recommended a dividend of Rs 2 per equity share.
