Tata Power has unveiled plans to invest Rs 20,000 crore during the fiscal year 2024-25, with a significant portion earmarked for the company’s renewable energy projects.
“The company plans to invest Rs 20,000 crore capex in FY25, which is over and above the Rs 12,000 crore invested in FY24,” Tata Power Chairman Natarajan Chandrasekaran said during the company’s 105th Annual General Meeting (AGM).
“A large part of this will be towards accelerating the company’s renewable energy portfolio, with the remainder going towards our transmission and distribution businesses,” Natarajan Chandrasekaran said.
In addition to bolstering its renewable energy efforts, Tata Power will explore participation in Small Modular Nuclear Reactors. The company is also eyeing new distribution expansion opportunities in various states.
Tata Power aims to lead India’s green energy transition, focusing on providing round-the-clock renewable energy to commercial and industrial consumers.
The company plans aggressive growth in rooftop solar, leveraging the PM Surya Ghar Yojana to increase market share.
Tata Power targets expanding its distribution business to serve 50 million consumers, up from the current 12.5 million.
Tata Power reported a 10 percent increase in revenue, reaching Rs 61,542 crore. The company’s Profit After Tax (PAT) rose by 12 percent to Rs 4,280 crore. Despite funding its growth plans, Tata Power has maintained a net debt to equity ratio of less than 1, demonstrating continued efforts to strengthen its balance sheet.
GreentechLead.com News Desk