Tata Power plans to invest more than INR 75,000 crore in renewables over a period of five years. It will invest INR 14,000 crore in the 2022-23 fiscal year, with INR 10,000 crore going to renewables.
The integrated power producer made this announcement this week its annual general meeting, led by Chairman N Chandrasekaran. Tata Power’s proposed investment is aligned with its aims to scale its generating capacity to more than 30 GW by fiscal 2026-27. The clean energy portfolio will account for 60% of the total by 2027 and 80% by 2030. Tata Power currently has 13.5 GW of generating capacity, with clean energy accounting for 34% of the total.
The company has an engineering, procurement and construction order book of INR 13,000 crore. It is also setting up 4 GW of solar cell and module production capacity in Tamil Nadu, with an investment of INR 3,000 crore. It also wants to scale up its focus on solar rooftops, EV chargers, solar pumps, smart metering, and energy management solutions.
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