Private sector energy major, Tata Power plans to invest around Rs 20,000 crore in the current fiscal year, the bulk of it to bolster its renewable energy business.
Power sector bellwether Tata Power has unveiled an ambitious Rs 20,000 crores renewable energy gameplan that will see it consolidate its presence in the fast-expanding sector. The company has announced its intentions to strengthen its hold on the distribution space as well by moving into more states. Also, in its line of vision (pending government approvals), are opportunities in small modular nuclear reactors.
Currently, the company's distribution business serves 12.5 million consumers. Its new target? A whopping 50 million.
The Tata Group company is well positioned to lead India's green energy shift with a focus on providing round-the-clock renewable energy, especially to commercial and industrial (C&I) consumers.
The company is also aiming to increase its market share in the rooftop solar space under the PM Surya Ghar Yojana and enhance its renewable energy portfolio from the current 9 GW to 15 GW within five years.