Tata Power Co. Ltd plans to invest around ₹20,000 crore in the current fiscal year, according to chairman N. Chandrasekaran at the company’s 105th annual general meeting (AGM) on Friday.
Most of this investment will go into its renewable energy business, with the rest for its transmission and distribution operations, he said.
“Tata Power will invest ₹20,000 crore in FY25, on top of the ₹12,000 crore invested in FY24. A large part of this will speed up the company’s renewable energy projects, with the rest going to transmission and distribution,” said Chandrasekaran.
The company will also explore opportunities in small modular nuclear reactors once the government gives the necessary permissions, and look for new distribution opportunities in other states as they arise. Tata Power currently serves 12.5 million consumers through its distribution business and aims to reach 50 million.
Green Energy Focus
Tata Power is well-positioned to lead India’s shift to green energy, focusing on providing round-the-clock renewable energy, especially to commercial and industrial (C&I) consumers, said Chandrasekaran.
The company also plans to increase its market share in the rooftop solar space under the PM Surya Ghar Yojana and boost its renewable energy portfolio from 9 GW to 15 GW within five years.
On Tuesday, Tata Power’s stock closed at ₹436.90 on the BSE, down 0.52% from its previous close.
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