Tata Power Co. plans to invest Rs 20,000 crore in capital expenditure in fiscal 2025 to expedite its pivot to renewable energy and augment its transmission and distribution businesses, Chairman Natarajan Chandrasekaran said on Tuesday.
"Tata Power plans to invest Rs 20,000 crore capex in fiscal 2025. This is over and above the Rs 12,000 crore invested in fiscal 2024," Chandrasekaran said during the company's annual general meeting.
The investments will largely go towards bolstering the company’s renewable energy portfolio and balancing transmission and distribution businesses.
Tata Power will also explore participation in small modular nuclear reactors, following regulatory approvals, apart from new distribution expansion opportunities in other states, the chairman said.
The government has announced plans to increase the nuclear power capacity from the current 7,480 MW to 22,480 MW by 2023–2022. As per reports, the central government has sought private investments of about $26 billion in the nuclear energy sector.
It has set a target of 5 crore consumers through distribution business expansion, from the present 1.25 crore, and aggressive growth in the rooftop solar market.
The Tata Group company set an ambitious target of a 15 gigawatt clean energy portfolio in five years from the existing 9 GW, both from existing and ongoing projects.
It also plans to set up a new 4.3 GW solar cell and module manufacturing plant in Tamil Nadu. It has already executed more than 2 GW of rooftop projects so far under the PM Surya Ghar Yojana and has an order book of Rs 2,800 crore.
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